Private equity firms Balkans Investment Solar

Western Balkan nations are seeing a boom in solar energy investment

Western Balkan nations are seeing a boom in solar energy investment, as governments and businesses look to reduce their reliance on fossil fuels and meet climate targets.

In North Macedonia, for example, solar park investments with 139 Megawatt (MW) capacity have been built since 2021.

The country plans to produce up to 300 MW of new solar energy by the end of 2023.Similarly, in Bosnia and Herzegovina, solar plants have mushroomed across the country, with the town of Stolac – the only Balkan country that exports electricity – becoming a big construction site.

zbynek burival VZYJZJWM unsplash

Photo by Zbynek Burival

The boom in solar energy investment is being driven by a number of factors, including:

  • The falling cost of solar panels and other renewable energy technologies.
  • The increasing availability of financing for renewable energy projects.
  • The need to reduce greenhouse gas emissions and combat climate change.

The growth of the solar energy sector is also being supported by governments in the Western Balkans, which are offering a number of incentives, such as tax breaks and feed-in tariffs, to attract investment in renewable energy projects.

The boom in solar energy investment is a positive development for the Western Balkans, as it will help to reduce the region’s reliance on fossil fuels and improve its energy security. It will also help to create jobs and boost the economy.

The International Renewable Energy Agency (IRENA) estimates that the Western Balkans could generate up to 200 GW of solar energy by 2050.

This would make the region a major player in the global solar energy market.The development of solar energy in the Western Balkans is also being supported by the European Union, which is providing financial assistance and technical expertise to help the region transition to a low-carbon economy.

The boom in solar energy investment is a welcome development for the Western Balkans.

It is a sign of the region’s commitment to renewable energy and its willingness to take action on climate change.


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