Renewables

CWP, Mercuria join forces to build 2 GW of renewables in Southeast Europe

CWP, Mercuria join forces to build 2 GW of renewables in Southeast Europe

Published

October 12, 2021

Country

Comments

comments icon

0

Share

Published:

October 12, 2021

Country:

Comments:

comments icon

0

Share

CWP, a leading independent renewable energy developer in Southeast Europe and Australia, and Mercuria Energy Trading, one of the world’s largest independent energy traders, have set up a joint venture to complete and build out CWP ‘s renewables portfolio in Bulgaria, Serbia, Romania, and Ukraine.

CWP’s portfolio, which has been in active development since 2018, consists of more than 2 GW of large-scale wind, solar, and battery storage projects in the four carbon-intensive countries. Mercuria’s investment in CWP Europe will help accelerate decarbonization in the region, according to a press release from CWP Global.

Mercuria’s support will help CWP Europe to realize its EUR 1.9 billion investment plan over the coming years

Mercuria, a commodity trading giant, with revenues exceeding USD 100 billion, will provide its broad expertise in energy markets and increased financial support, which will allow CWP Europe to realize its EUR 1.9 billion investment plan over the next several years.

CWP is already the leading international developer active in the region, having developed the largest wind farm in Serbia, the 156 MW Čibuk project, and in Romania, the 600 MW megawatt Fântânele-Cogealac wind farm. It has also recently entered the Ukrainian energy market by acquiring a 73 MW wind project.

Mercuria’s strategic investment in CWP Europe will speed up the development of the existing portfolio and significantly expand the opportunity with additional developments, according to the press release.

The four countries are in urgent need of replacing coal with renewables

“We see a tremendous opportunity in these markets, where a massive amount of expensive and polluting coal needs to be replaced with renewables as quickly as possible,” said Dimitar Enchev, CWP Europe’s CEO, adding that this is the only way to achieve decarbonization targets and keep power prices in check in the long run.

Bulgaria, Serbia, Romania and Ukraine have some of Europe’s most polluted air due to coal’s dominant role

Bulgaria, Serbia, Romania, and Ukraine, where coal is still playing a dominant role in the energy sector, have some of Europe’s most polluted air and some of the highest rates of premature deaths caused by air pollution in the developed world.

“We are pleased to join CWP Europe to help provide needed low-cost green energy to Southeast Europe,” said Jean-François Steels, Vice President of Energy Transition at Mercuria.

CWP is also one of Australia’s largest renewable energy developers, having realized 760 MW of capacity, with another 2.5 GW of wind, solar, and storage under development in a joint venture with Partners Group.

Mercuria is a leading player in European wholesale power. Its experience will enable CWP Europe to optimize its portfolio of renewable energy assets and offer superior and more competitive products to its corporate and industrial power off-takers.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Regional Power Sector Exchange Western Balkans disitribution system operator dso grids ohrid giz

Third Regional Power Sector Exchange in Ohrid: Power grids at core of energy transition

30 May 2025 - The third Regional Power Sector Exchange of the Western Balkans gathered over 80 energy professionals from the Western Balkans

Maja Maćić, Balkans Platform Head at Alcazar Energy

Maja Maćić: Alcazar Energy expands presence in Western Balkans

30 May 2025 - Maja Maćić, executive manager of Alcazar Energy, said at Belgrade Energy Forum that construction activities for some projects would start as early as this year

two solar power plants egesa enerji vojvodina

Turkish Egesa Enerji to build two solar power plants in Serbia’s Vojvodina province

30 May 2025 - Turkish company Egesa Enerji has launched a project to build two solar power plants in Vojvodina, with a total nominal capacity of 8.6 MW

Green for Growth Fund partnership Swedish International Development Cooperation Agency Sida

Green for Growth Fund launches partnership with Swedish International Development Cooperation Agency

30 May 2025 - GGF and the Swedish International Development Cooperation Agency are expanding green lending in the Western Balkans and the EU's Eastern Neighborhood