Montenegro launches major electricity transmission upgrade

Montenegro’s electricity transmission network is set for a significant transformation as the country’s transmission system operator, CGES, prepares an investment program exceeding €200 million over the next five years. The initiative aims to reinforce system reliability, expand cross-border connectivity, and enable the integration of new renewable energy projects. Recent investments have already delivered tangible results. […]

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Bulgaria hits a renewable milestone: Solar, wind and hydro surpass coal in electricity generation

Bulgaria’s electricity sector reached a historic milestone in 2025, as renewable energy sources became the country’s second-largest producer of electricity, surpassed only by nuclear power. For the first time, combined generation from solar, wind, hydropower, biomass, and waste exceeded output from coal-fired plants, signaling that the energy transition has moved from concept to reality. Data

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Bulgaria: Chevron and Quantum eye $22B bid for Lukoil’s international assets, shaking up SEE oil market

A major shift may be underway in the global oil market as US energy giant Chevron and private equity firm Quantum Capital Group prepare a joint bid for the foreign operations of Russia’s Lukoil. The proposed transaction is valued at approximately $22 billion, covering Lukoil’s assets outside of Russia. The move comes amid Lukoil’s efforts

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EU solar surges in 2025: Record growth highlights need for flexibility amid stagnant demand

Last year marked a turning point for solar power in the European Union, according to data from Eurelectric. Electricity generation from solar installations surged to more than 340 TWh, lifting solar’s share in the EU energy mix to a record 12.5 % and contributing to a reduction of overall emissions to around 45 % of

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The 400 kV Montenegro–Italy transmission corridor: Why it reshapes power trading between Italy and the Western Balkans

The 400 kV transmission link between Montenegro and Italy is not just another piece of cross-border infrastructure. It is a structural intervention in the Western Balkan–Italian power market, one that redefines price formation, balancing flows, investment logic and long-term system liabilities on both sides of the Adriatic. In practical terms, it turns Montenegro from a peripheral,

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Europe’s grid build-out and the strategic repositioning of SEE’s power markets

The European Commission’s decision to accelerate and scale up Europe’s electricity grid expansion is not simply a technical upgrade programme. It is a structural market intervention whose consequences will be felt most sharply in peripheral but highly interconnected regions such as South-East Europe (SEE). While the stated objectives are lower energy prices, faster renewable integration

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Stress-testing Serbia’s energy system: Technical shock scenarios, financial exposure and system-wide resilience limits

Serbia’s energy system sits at a structural crossroads. It combines large legacy baseload assets, growing renewable penetration, limited flexibility, and a transmission position that increasingly exposes it to regional volatility. Stress-testing the system is therefore not an academic exercise. It is a way to identify where physical limits, financial fragility and institutional liabilities intersect, and how

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Stress test for SEE’s energy system: What happens if all nuclear capacity is shut down and how renewables and balancing absorb the shock

A full shutdown of nuclear power across South-East Europe would represent the most severe structural stress test the regional energy system has faced since market liberalisation. Unlike price shocks or fuel disruptions, nuclear exit would remove firm, low-marginal-cost baseload that currently anchors system stability, cross-border trade and seasonal balance. The consequences would not be linear. They would

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Lenders and state-owned power utilities in South-East Europe: Megawatts financed, capital deployed and the long-term liabilities embedded in the system

State-owned power utilities in South-East Europe remain the structural backbone of the regional electricity system, even as private renewables, batteries and merchant assets dominate new capacity additions. What has changed is not their centrality, but the nature of their financial exposure. Today, state utilities sit at the convergence of legacy megawatts, new grid investments, lender-driven capital

Lenders and state-owned power utilities in South-East Europe: Megawatts financed, capital deployed and the long-term liabilities embedded in the system Read More »

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