Montenegro’s state-owned power utility EPCG recorded a net profit of €10.2 million in 2024, marking an 80.5% decrease from the €52.5 million profit achieved in 2023. The company’s pre-tax profit stood at €12.47 million, with retained earnings reaching €70.17 million by year-end. EPCG cited multiple factors for the profit slump, including unfavorable hydrological conditions that […]
Montenegro’s state-owned power utility EPCG has terminated its second tender for the design and construction of the Otilovici small hydropower plant after rejecting all submitted proposals. The public procurement commission dismissed bids from three consortia led by local firms Vigoris Ecotech, Permonte, and Elnos Crna Gora. While all three offers aligned with the tender’s estimated
Hungary: MOL approves increased dividend payout amid stable financial outlook Read More »
At its annual general meeting on 24 April, shareholders of Hungarian oil and gas company MOL approved a total dividend payout of 0.68 euros per share. This includes a base dividend of HUF 165 per share from 2024 profits and an additional special dividend of 0.27 euros per share, bringing the total dividend fund to
Croatia: Zagreb expands solar energy projects Read More »
Currently, the City of Zagreb operates a total of 2.43 MW of solar capacity across public buildings. This represents a threefold increase since June 2021, when the capacity was only 0.7 MW. Contracts have also been signed or are nearing completion for an additional 16 MW of solar capacity on city-owned buildings. A contractor has
Bosnia and Herzegovina doubles coal exports in early 2025 Read More »
Bosnia and Herzegovina (BiH) significantly increased its coal exports in the first quarter of 2025, with volumes more than doubling compared to the same period last year. Official data reveals that between January and March, the country exported 234,301 tons of coal, valued at 20 million euros. This marks a sharp rise from the first
Solar electricity generation across Europe jumped by over 30% in the first quarter of 2025 compared to the same period in 2024, signaling a potential record year for the continent’s solar energy output. Data from Ember shows that solar installations produced nearly 68 terawatt-hours (TWh) of electricity between January and March—a 32% increase year-on-year. In
Serbia: NIS seeks extended US sanctions delay as current license nears expiry Read More »
Serbian oil company NIS announced that it has submitted a new request to the US Department of the Treasury for a special license, seeking to delay the full enforcement of US sanctions, which are scheduled to take effect on 28 April. The request aims to ensure the company can continue its operations without disruption beyond
Romania: Nofar Energy finalizes major contract for 265 MW solar power plant Read More »
Nofar Energy has secured a comprehensive contract for a 265 MW solar power plant in Corbii Mari, Dambovita County, just west of Bucharest. The contract covers all phases of the project, from engineering to long-term operations and maintenance. This large-scale development is one of the biggest solar projects in Romania. The project will be developed
Montenegrin electricity distribution system operator, CEDIS, has earmarked more than 30 million euros for infrastructure investments in 2025, aiming to improve the country’s electricity distribution network and meet necessary supply standards. This year’s investment is approximately 6 million euros higher than the previous year, demonstrating the company’s growing ambitions and the increasing complexity of its
Montenegro saw a notable decrease in electricity production in 2024, generating 3,447 GWh, which is a 15% drop compared to the previous year and 4.4% below the forecasted figures. The decline was largely attributed to unfavorable hydrological conditions, as reported by the Ministry of Energy. Hydropower production, which is a key component of the country’s
