Hungarian oil and gas company MOL is advancing the development of a major renewable energy project in Algyo, located in southern Hungary. The initiative involves the construction of a solar power plant with a capacity of 37.4 megawatts, paired with a battery storage system capable of storing 40 megawatt-hours of energy. The project is receiving […]
Slovenia: Distributors to invest over €150 million in smart grid modernization by 2026 Read More »
Slovenia’s five leading electricity distribution companies—Elektro Primorska, Elektro Ljubljana, Elektro Gorenjska, Elektro Celje, and Elektro Maribor—are set to invest more than €150 million by March 2026 to modernize the national electricity network and integrate smart grid technologies. These companies, which operate the country’s regional electricity infrastructure under the coordination of system operator ELES, plan to
Serbia eyes new long-term gas deal with Russia amid EU energy shift Read More »
Serbia is currently negotiating a new long-term natural gas agreement with Russia, aiming to secure what it claims will be the most favorable gas price in Europe. According to Dušan Bajatović, Director of the state-owned company Srbijagas, the upcoming contract with Gazprom is expected to take effect in September and could last either three or
Romania: Retele Electrice launches €26 million tender to upgrade power grid Read More »
Retele Electrice Romania, part of the PPC group, has launched a major public procurement process to acquire advanced equipment for modernizing the national electricity distribution network. The tender, valued at over €26 million (excluding VAT), focuses on purchasing 24 kV prefabricated equipment for secondary substations, supporting investment projects planned for 2025 and 2026. This initiative
Montenegro: Jugopetrol to pay €1.29 dividend per share from retained profits Read More »
Montenegrin fuel retailer Jugopetrol has announced it will distribute a gross dividend of €1.29 per share for this year, maintaining the same payout as the previous year. The decision was made despite the company choosing to retain its entire 2024 net profit of €7.14 million. Instead of using current-year earnings, Jugopetrol will fund the €6
Chinese technology manufacturers and developers overtaking Serbian wind market Read More »
Mingyang recently announced the start of installation at the Serbia Black Peak wind farm, where it is supplying 25 units of its 6.25-172 model. Chinese SPIC is the sole owner of 150MW wind park Black Peak. Located on high mountain terrain of eastern Serbia, Black Peak WPP is unique project developed by local company Sage and Kodar. Local
Montenegro’s electricity distribution system operator, CEDIS, has unveiled an ambitious investment program aimed at modernizing the country’s electricity distribution infrastructure. The initiative, running through 2029, reflects CEDIS’s commitment to improving the reliability, efficiency, and sustainability of power delivery across the nation. Recognizing the need for enhanced service quality, CEDIS has set a strategic goal to
Bulgaria: Bulgartransgaz seeks €102 million loan to expand gas network Read More »
Bulgarian state-owned gas transmission operator Bulgartransgaz has launched a tender to secure a €102 million loan to help fund the expansion of its pipeline network. The financing is intended to support the development of the Vertical Gas Corridor, a key project designed to connect Greece with Central and Eastern Europe and boost energy connectivity across
Portuguese energy company EDP has officially inaugurated a new solar facility near Timisoara, marking a major milestone in Romania’s renewable energy development. The Albina solar power plant, with an installed capacity of 60 MW, is now the largest solar project in Timis county. The Albina plant has already started generating electricity, adding valuable capacity to
Croatian oil company INA presented its consolidated and unconsolidated financial reports for 2024 at this week’s General Assembly meeting, alongside the independent auditor’s report. In 2024, INA reported a net profit of just over 156 million euros. From this amount, about 7.8 million euros will be placed into statutory reserves. The company plans to distribute
