Fortis Energy’s Nocaj project in Serbia combines 270 MWp of solar capacity with 72 MWh of battery storage and targets commercial operation in the second quarter of 2028. The project illustrates how storage could support shaped renewable power purchase agreements for industrial buyers.
Rapid storage deployment across Southeast Europe is expected to narrow the price spreads that underpin battery arbitrage and reduce prices for some balancing services. Long-term projects will need to account for competition and diversify their revenue streams.
Southeast Europe’s battery market has reached gigawatt scale in several countries, shifting investor focus from announced capacity to whether projects can sustain debt through lower spreads and ancillary-service prices. Bulgaria’s latest 2026 estimates put storage above 6.2 GW, while Romania and Hungary have also crossed the 1 GW mark in operating or grid-scale capacity.
Serbia’s day-ahead prices showed an almost EUR 179/MWh gap between the daily low and the hour-20 peak on 15 October. But a high-low spread alone does not show how much a battery can earn or support a bankable revenue forecast.
Battery deployment is adding within-market, hourly trading to Southeast Europe’s traditional cross-border arbitrage. Bulgaria’s battery fleet exceeds 6.2 GW of power, with the potential to shift domestic solar generation into later hours.
SEEPEX introduced negative electricity prices for delivery in Serbia from 6 May 2026. The market then recorded both negative prices and October prices above EUR 300/MWh, sharpening the investment case for storage.
The Scornicesti battery secured non-recourse financing through an EBRD package of up to 44 million euros, supported by InvestEU. The project shows how standalone storage can attract project finance without a classic long-term offtake contract when risks are allocated and managed.
Montenegro’s EPCG has signed an agreement with Japan’s PowerX targeting about 500 MWh of battery storage over an initial three-year period. The investment case centres on coordinating batteries with hydro, growing solar generation and cross-border trading, rather than standalone arbitrage.
CROPEX traded 1,454,482 MWh in October 2026, up 6.7% from September, while its average day-ahead baseload price rose 31.2% to €226.66/MWh. Aggregate turnover was 0.3% higher than in October 2025.
Day-ahead prices rose across Southeastern Europe for 5 November delivery as lower wind generation, colder weather and higher consumption lifted regional net imports to a seven-day high. Albania recorded the highest average price, while Serbia and Montenegro also saw sharp gains.
Day-ahead electricity prices rose across Southeastern Europe for 5 November delivery as lower wind generation, colder weather and higher consumption lifted regional net imports to a seven-day high. Albania recorded the highest average price, while Serbia and Montenegro also saw sharp increases.
Hungary’s gas-fired electricity generation rose by 69.52% in the week ended November 1, as electricity demand strengthened and wind and
