Greece, Croatia are top-tier markets for energy transition investment

Greece Croatia top tier markets energy transition investment

Photo: Rodrigo Kugnharski on Unsplash


December 28, 2021







December 28, 2021






BNEF’s Climatescope placed Greece at the sixth position worldwide in its chart of best destinations for investment in electricity from renewables, while Croatia is 16th. Both also did well in the overall energy transition ranking.

Global power output slipped just 0.2% last year, BloombergNEF (BNEF) said in its Climatescope report on energy transition, noting that a sharp drop had been expected due to the coronavirus pandemic, but that China led the recovery. The document reveals detailed information on 136 markets.

Asset financing – the funding of projects and infrastructure – for renewable energy, electrified transportation and electrified heat surged 11% in 2020. Renewables accounted for 60% of the total, though there has been little change in investment in the category (wind and solar, mostly) over the past six years.

Wind farms generated 6% and solar parks accounted for 3%, a flat result year on year, but production attributed to the two technologies jumped 15% and 11%, respectively, in absolute terms. In net new capacity, photovoltaics had the biggest share by far, 46%, compared to 23% for wind. The report adds growth in the coal sector continued to slow.

Greece steadily in lead in Southeastern Europe

In the region tracked by Balkan Green Energy News, Greece was steadily in the lead in 2020 when it comes to renewable energy. For instance, it was eighth in the world by the share of electricity produced from solar, almost one third. But when it comes to total investment in green energy, Turkey was 14th on a global scale last year with USD 4.7 billion, and also 14th when the past five years are combined.

Turkey was 14th in the world last year when it comes to total investment in renewables

Climatescope is published with an up-to-date list of the best destinations for investment in renewable electricity. Greece came in sixth in the world, while Croatia is 16th. As for the rest of the Balkan countries covered in the report, North Macedonia is 21st, followed by Albania (33), Turkey (34), Slovenia (40), Bulgaria (66), Serbia (77), Romania (82) and Bosnia and Herzegovina (100).

Slovenia ranks highest in Balkans in transportation category

When it comes to the overall ranking of the conditions for energy transition investment, which includes the transportation and buildings sectors, Greece is also doing best – it landed at the 12th position, and Croatia is 23rd. Next are Slovenia (28), North Macedonia (32), Romania (41), Bulgaria (46), Albania (59), Serbia (66), Turkey (67) and BiH (86).

Slovenia has the highest position in transportation, number 18, one step ahead of Greece. Romania did pretty well in the section – it is 24th in the list, while Turkey was the worst in the region, at 120.

In the buildings category there are only 56 markets in the chart, and Greece is ranked the highest in Southeastern Europe, at number 20.

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


Republic of Srpska offers households credit to install solar panels

16 August 2022 - The credit program aims to enable 50,000 households across the Republic of Srpska to install solar panels and become prosumers


7-month shutdown of TPP Pljevlja planned for 2024 as part of ecological reconstruction

16 August 2022 - TPP Pljevlja's ecological reconstruction will not require a temporary shutdown in 2023, but a 7-month stoppage is planned for 2024

BIG Shopping Centers buys 70 MW solar power project in North Macedonia

BIG Shopping Centers buys 70 MW solar power project in North Macedonia

16 August 2022 - BIG Shopping Centers took over a 70 MW photovoltaic project in North Macedonia, which it plans to expand to 105 MW

Montenegro utillity EPCG halve minimum price for sale 10 stake

Montenegro’s utillity EPCG to halve minimum price for sale of 10% stake

15 August 2022 - After two failed bidding rounds for a 10%, stake, EPCG said the government can decide to switch to the stock market for the share sale