CWP Global is developing 6 GW of solar, wind and storage

CWP Global is developing projects with a capacity of 6 GW and sees many more opportunities to expand its portfolio in Southeastern Europe, said Maja Turković, vice president for Europe at CWP Global and one of the co-founders of the WISE Serbia network, said during the Belgrade Energy Forum 2024 press conference.

Maja Turković took part in a panel discussion at the BEF 2024 conference, which concerned network challenges in the energy transformation. This year, the event gathered over 400 participants from 26 countries around the world, including representatives of 150 companies.

Turković emphasized that CWP Global is one of the pioneers in the development of renewable energy projects. It is present in nine markets: Albania, Bosnia and Herzegovina, Bulgaria, Montenegro, Moldova, Romania, Slovenia, Serbia and Ukraine, she noted.

“We have over 6 GW of wind, solar and energy storage projects under development,” she noted, adding that the project development team has over 150 employees, including many young people and women.

Turković pointed to Serbia as the main market, where CWP Global started its operations in 2006. It developed its first project there – the Čibuk 1 wind farm. She recalled that the company had implemented many large projects, including until recently the largest onshore wind farm in Europe – Fântânele-Cogealac with a capacity of 600 MW in Romania.

“We are already planning new projects and believe that Southeastern Europe offers many opportunities to expand our portfolio,” Turković said.

The new EMS rules are a test for both sides

During the Solutions on the horizon panel for overcoming network challenges, she noted that thanks to the new network connection rules, the operator protects its resources by requiring security in the form of a not-so-small bank guarantee, which significantly raises the stakes.

In her opinion, this will be a test for both the transmission system operator ELektromreža Srbije (EMS) and new investors.

“Investors will not leave easily because they have already started investing money and protecting their interests,” Turković said.

According to her, the moment when an investor must provide a multi-million guarantee is the moment when the project is far from risk-free. She added that there is still plenty of time for various problems to arise.

Noting that the number of applications is too high, Turkovic said that there are also problems related to the grid connection procedure that have not been fully resolved.

Numerous projects in the region

In Montenegro, CWP is developing a photovoltaic power plant in Montechevo. It is expected to be installed in the cadastral municipalities of Lastva, Čevo and Prentin Do in the historical capital of Montenegro, Cetinje. The value of the investment with a capacity of 400 MW is estimated at EUR 360 million. It is to be implemented in stages.

In March last year, the company acquired the 134 MW Studina solar project in Romania. The plan is to put it online by the end of 2024.

The company also uses strategic partnerships when implementing investments, which is why it established cooperation with PowerChina Resources in the construction of the Vetrozelena wind farm in Serbia.

CWP Global is also working on the first hybrid power plant in Serbia. Lederata Energy would consist of a 50 MW solar park, a 100 MW wind farm and a 20 MWh energy storage system.

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