Maja Turković: Technology is our strongest card

The technological solutions needed to increase the share of renewable sources in Southeast Europe are already available and accessible, according to Maja Turković, Senior Vice President of CWP Europe. Countries in the region now need to adopt regulations to boost the deployment of battery storage and hybrid power plants, she said on the sidelines of Belgrade Energy Forum 2025.

“I believe that technology is our strongest card,” said Maja Turković, adding that its cost is decreasing, as are financing costs. Speaking at the panel on the ongoing energy revolution, she suggested that more financial resources are available than there are eligible projects.

The cost of technologies is decreasing, as are financing costs

Prices of solar panels have dropped 60% over the last two years, while battery costs fell by 40% by the end of 2024 and by a further 5% this year, to under EUR 100,000 per MWh, Turković pointed out at the panel, titled Energy revolution underway – uniting efforts to deliver green, intelligent and sustainable energy solutions.

She said that integrating batteries with solar power plants is the latest trend, but that transmission system operators in the region still do not allow it. However, in some countries, a grid connection approved for solar can also be used for batteries, she noted.

Integrating solar with batteries is the latest trend

Turković expressed the hope that regulations in the region will follow the technological evolution. “We hope to improve the preparedness of countries in the region to adopt appropriate regulations and to increase the capacity of battery storage and hybrid power plants in general, which are far more desirable for the system itself,” she stressed.

Talking about CWP Europe, Turković recalled that the company is developing projects for wind power plants, solar power plants, and battery storage in nine countries, and that it has also begun diversifying into hybrid power plants. She added that the company is also developing its own battery management software for short-term power markets.

CWP Europe recently signed the largest single power purchase agreement (PPA) for a solar project with Serbia’s state-owned power utility Elektroprivreda Srbije (EPS), marking a major milestone in the country’s energy transition. The PPA was signed for the 150 MW Solarina photovoltaic park that CWP Europe is developing in eastern Serbia.