EBRD to Support Renewable Energy Transition in Western Balkans Region
/1st October 2020, EBRD, RENEWABLE MARKET WATCHTM/ The EU has one of the most ambitious energy and climate policies in the world. Its clean energy transition is well underway. "I am glad that benefits already can be seen in terms of "greening" of economies, less dependency on imported fuels, and greater domestic investments in ecologically sound approaches", said Christian Danielsson, Director General for European Neighbourhood Policy and Enlargement Negotiations.
The EU wants Western Balkans to embark on this path. They also want to decarbonise their economies, increase energy efficiency, and use of renewable energy potential. Also, they can reduce energy dependency with similar benefits as in the EU. Working together with the Energy Community, international financial institutions, and others, the EU has long contributed to the clean energy transition in the Western Balkans. It is the major donor and actor in terms of funding and policy dialogue. Over the last decade, the EU has provided more than €185 million in grants to support energy efficiency and renewable energy, ultimately attracting some €850 million in loans.
Since 2006, the EBRD has invested more than €3 billion in the “greening” of the Western Balkans region. Together with providing funding, the Bank is also very active in engaging with national governments to reform legal and policy frameworks to create an environment in which individual projects can succeed, and a wider impact is possible. For instance, in North Macedonia, an energy efficiency law drafted with EBRD support and approved by the government has recently passed its first reading in parliament; meanwhile, on the renewable side, the EBRD support was crucial in launching and awarding the first private solar photovoltaic competitive auction in the country.
Large-scale investments in renewable energy projects are providing alternative power sources to traditional coal, and work is being carried out to modernise the district heating networks across the region. In the Western Balkans Solar and Wind Power Market: Outlooks 2020÷2030, more than 135 solar and wind projects across the region are featured, but some of the most important have been financed with the EBRD's support and are as follows:
1) In Albania, the EBRD financed the modernisation of Korporata Elektroenergjitike Shqiptare (KESH), the largest generator of electricity in the country, supporting the company with a restructuring and reform package.
2) The Bank financed the first two large-scale wind farms in Kosovo: Kitka and Bajgora wind farms, providing a concrete way forward to address the challenge of power cuts and pollution caused by the lignite coal powering Kosovo’s two main electricity plants.
3) In Montenegro, following a long policy dialogue on the bankability of the power purchase agreement, the EBRD was the first financial institution to structure a project finance loan for the Krnovo wind farm, the first private wind farm in the country and at the time of financial close also the first private wind farm in the Western Balkans region.
4) In North Macedonia, the EBRD financed ESM, the first large-scale solar power plant on the site of an exhausted lignite coal mine, representing a tangible example of how to implement some of the solutions of the EU Just Transition policy for coal mine regions in the Western Balkans.
5) In Serbia, the Bank backed the construction of the country’s two largest wind farms: the 158MW Čibuk wind farm in Dolovo; and the Kovacica wind farm with a capacity of 104 MW.
The more information and answers to your questions about Western Balkan's solar and wind energy markets, you may read here: Western Balkans Solar and Wind Power Market: Outlooks 2020÷2030
For a better understanding of the benefits of using our reports, you may read here: Benefit List - Reports of Renewable Market Watch - 2020
To download the executive summary brochure with sample pages for the solar sector, please access from here: Western Balkans Solar Photovoltaic (PV) Power Market Outlook - Sample
To download the executive summary brochure with sample pages for the wind sector, please access from here: Western Balkans Wind Power Market Outlook - Sample
About Renewable Market Watch™
Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting edge predictive analytics data platform. We partner with our customers to provide research, data, and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets of the Asia Countries, Balkan countries, Central and Eastern Europe, CIS states (former Soviet Union), LATAM countries, and MENA countries. For more information about Renewable Market Watch™ please visit:
