Exploring the options for SEE industrials to procure renewable energy

The year 2022 may mark its place in history as the year in which energy transition investments reached parity with capital deployed in support of fossil fuel supply.

According to data compiled by BloombergNEF, the huge acceleration of 31% year-on -year came mainly on the back of faster deployment of clean energy technologies, in turn driven by the energy crisis in Europe.

A big chunk of the wind and solar assets that came online in 2022 was driven by corporate power purchase agreements (PPAs). Developers signed 161 deals for a total of 8.4 GW, according to data of Swiss consultancy Pexapark.

While self-consumption and on-site generation is still the prevailing choice for SEE corporates, the PPA market has the potential to catch up fast, as first deals have already been announced in Bulgaria, Greece and Romania and most recently in Serbia and North Macedonia too. Across Europe, high market prices tempted power producers to shift towards short-term PPAs and more active energy trading strategies with a rising focus on short-term hedges. Does the SEE region benefit from this trend and what PPA pricing & hedging strategies can be applied will be a key topic for discussion at the 3rd edition of RE-Source Southeast, which will take place on May 18-19 in Sofia, Bulgaria. This is the biggest regional event dedicated to corporate renewable energy sourcing, which this year will bring on stage the leading European traders ACT Commodities and Axpo, among others, to offer key market insights and advice.

* The event is FREE for Industrial consumers.

Confirmed speakers from original equipment manufacturers (Jinko), distributors (Photomate), experienced developers (CWP), and EPC companies (hec solar), will discuss procuring strategies, best practice quality checks and how to achieve better return on investment for RES projects.

Leading companies will offer shining examples for their decarbonisation paths and what it takes to make a net-zero strategy work in SEE.

One of the top buyers in Pexapark’s chart – Microsoft (900 MW) is among the key supporters of the RE-Source Southeast event in an effort to bring awareness of corporate sourcing of renewable energy in South East Europe (SEE) as well as the role of the Green Taxonomy and ESG policies in fueling renewable energy development.

As solar and wind take up an ever increasing share of the power generation, the role of energy storage becomes ever more important and versatile. A panel gathering transmission and distribution grid operators, storage system integrators will discuss the evolution of energy storage, smart grids, virtual power plants and long-duration storage technologies  to solve the grid flexibility challenge in SEE.

National renewable energy associations and key political figures will discuss the latest policy and market development at the event, while sustainable finance institutions will shed light on the available European and national funding solutions.

Renewable energy in the five EU member states in Southeast Europe – Bulgaria, Croatia, Greece, Romania and Slovenia – has been the fastest developing segment of the energy industry over the last few years and is poised to reach new heights.

This is the main conclusion in the 2023 edition of Renewable Energy in Southeast Europe – a regional report by SeeNext. It includes an in-depth financial analysis covering the performance of 2,567 companies in the period 2019-2021, a comprehensive overview of changes in the regulatory framework in all five countries, and information on key investments and M&A deals.

>> Read the full report here

>> More information for Re-Source Southeast 2023 here