Romania: Day-ahead power prices fall sharply in November as market volumes decline

The average price of electricity on the Romanian day-ahead market (OPCOM) reached 121.48 euros/MWh in November 2025, a decrease of 27.71 % compared to the same month in 2024 and 0.35 % lower than in October, when the average baseload price was 121.9 euros/MWh. Traded volume totaled 1.28 million MWh, marking a 19.42 % drop […]

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Montenegro: EPCG suffers deep losses in 2025 as Pljevlja shutdown drives costs and cuts production

Montenegrin state-owned power utility EPCG posted a significant financial decline in the first nine months of 2025, recording a net loss of 78.7 million euros, compared to a loss of 19.2 million euros in the same period last year. The extended shutdown of TPP Pljevlja, Montenegro’s only coal-fired power plant, dominated this year’s results. The

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North Macedonia: Power exchange sees strong year-on-year growth despite monthly decline

In November 2025, electricity traded on North Macedonia’s day-ahead exchange reached 109,180 MWh, marking a 34.3 % increase compared to the 81,308 MWh recorded in the same month last year. However, the traded volume was 25.5 % lower than in the previous month. Market operator MEMO reported an average market-clearing price of 120.68 euros/MWh for

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Turkey steps in as key guarantor of Russian gas flows to Hungary amid geopolitical strains

Hungarian Prime Minister Viktor Orbán announced that Turkey has agreed to safeguard the transit of Russian natural gas to Hungary. The commitment was reached following talks in Istanbul and revealed during a joint press appearance with President Recep Tayyip Erdoğan. Hungary continues to rely heavily on Russian energy supplies despite ongoing geopolitical tensions related to

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Why OE-governed quality assurance is becoming the new currency of wind asset value in Southeast Europe

In every mature renewable market, there comes a moment when engineering quality—once assumed, often overlooked—becomes the defining currency of asset value. Southeast Europe is entering that moment now. Serbia, Romania, Croatia, and Montenegro are witnessing a scale-up in wind development that resembles earlier cycles in Spain, the Nordics, and Poland. But this expansion brings a

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Insurance, force majeure and financial risk transfer — the new architecture of protection for wind investors in Southeast Europe

In the early stages of Southeast Europe’s renewable expansion, wind investors focused primarily on EPC contracts, turbine warranties, and revenue support mechanisms. Insurance was treated as a formal requirement—necessary for lenders, but rarely integrated into strategic project design. That era is over. Insurance and financial risk-transfer structures have now become core pillars of investor protection,

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ESG, community strategy and social license — the hidden financial drivers of wind success in Southeast Europe

For years, wind investment strategies in Southeast Europe focused almost exclusively on technical variables: resource quality, EPC pricing, grid access, and financing structure. But as markets mature, a new set of forces is emerging—less visible than capex or P50 curves, but increasingly decisive in determining which projects advance smoothly, which face costly delays, and which

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The grid-ready wind farm — engineering for congestion, curtailment and dynamic grid codes in Southeast Europe

A decade ago, the success of a wind farm in Southeast Europe was determined primarily by resource quality, EPC execution, and turbine reliability. Today, those factors remain essential—but they are no longer sufficient. The defining determinant of performance, bankability, and long-term value has shifted decisively toward grid readiness. Serbia, Romania, Croatia, and Montenegro are entering

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The coming consolidation — how M&A will reshape the wind market in Serbia, Romania, Croatia and Montenegro

Every renewable market evolves through phases. The first is exploration, where early developers identify sites and navigate uncertain regulatory environments. The second is construction, marked by EPC competition, land acquisition, and turbine supply races. The third is operational optimization, where O&M strategies, availability guarantees, and energy trading determine project success. But the fourth phase—the one

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Building for reliability — the new standard of balance-of-plant design for Southeast European wind farms

Wind turbines capture the spotlight in every investment pitch, project announcement, and auction summary. They are the visible landmark of renewable progress. But in Southeast European wind development, the true determinants of long-term reliability and financial performance lie not in the turbines themselves but in the invisible engineering beneath them: the Balance-of-Plant (BOP). Foundations, roads,

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