Energo - CEE/FSU Power

20 March 2020

ContourGlobal abandons €1.3bn coal-fired power station project in Kosovo

17 March 2020

Kosovo’s new Prime Minister Albin Kurti had pledged to stop the 500MW power plant that would have been Kosovo’s largest ever energy investment.

Azerbaijan looks to renewables to meet growing power demand

10 March 2020

Don’t assume the push is motivated by an environmentalist impulse.

Europe’s plan to introduce a carbon import tax is forcing Russia to go green

8 March 2020

Europe wants to be carbon neutral by 2050, and is about to introduce a carbon import duty that is already forcing Russia’s biggest companies to speed up their efforts to go green.

Albania’s net electricity production plunges 39.1% in 2019

5 March 2020

Albania is almost entirely dependent on hydropower for its electricity, and thus the amount of power produced can vary widely from one season to another depending on the weather.

Environmental groups say Bulgarian coal power stations illegally burning waste

2 March 2020

Lawyers and environmental NGOs say three plants are burning waste at amounts that are 10,000 times above those allowed by the EU.

Ukraine appoints new top management of power generation major Centrenergo, Kolomoisky physically bars them from office

28 February 2020

The Ukrainian government has appointed a new top manager for power generation company Centrenergo but protestors reportedly connected to oligarch Ihor Kolomoisky barred their entry to the company's offices.

More upside potential still possible for Russian utility names despite strong rally this year

26 February 2020

Following the rally in Russian utility universe, putting the sector ahead of every other Russian equity segment in year-to-date terms for 2020, VTB Capital sees more place for upside for certain names coming from expected profitability gains.

Romania ready to develop new nuclear reactor without foreign partners

18 February 2020

Prime Minister Ludovic Orban announced last month that Bucharest will scrap its deal with China General Nuclear Power Corporation (CGN) to expand the Cernavoda nuclear power plant.

Russia’s utility sector set to rally in 2020 as reforms progress

15 February 2020

After a very strong rally Russia’s stock markets have been hit by fears of a global coronavirus epidemic and collapsing oil price. The market has given up all its gains, but not so the utilities sector which is up 16% YTD.

Istanbul-listed refiner Tupras’ shares fall 2% as BlackRock shifts positions

7 February 2020

Traders, meanwhile, treating Turkish Airlines shares as lira funding source by shorting them, following introduction of short-selling bans on most active banking stocks.

Afghanistan launches works on Central Asia-led CASA-1000 power transmission project

7 February 2020

Afghanistan’s President Ashraf Ghani on February 6 announced the official launch of works on the Afghan stretch of the Tajik and Kyrgyz-led CASA-1000 electricity transmission project, Afghanistan’s TOLOnews reported.

Work on Afghan stretch of Turkmenistan to India gas pipeline faces additional 6-month delay

28 January 2020

TAPI project, also to traverse Pakistan, is going nowhere fast. Claims that Turkmen section is complete seen as highly dubious.

Romania to scrap deal with Chinese partner to expand Cernavoda nuclear power plant

21 January 2020

Prime Minister Ludovic Orban cited the EU's new Green Deal rather than security issues or cost concerns circulated previously as the main reason behind a potential end of the deal with CGN.

Western Balkans has potential for up to €20bn wind energy investment says new report

16 January 2020

Western Balkans Investment Framework (WBIF) study reveals huge untapped renewable energy potential in the region, which currently relies heavily on coal power.

Russian nuclear power plants produce a record 208bn kWh in 2019

6 January 2020

Nuclear plans account for 19% of Russia’s aggregate electricity generation compared to the 40% European average.

Bulgaria invites 5 companies to file binding bids for Belene nuclear project

19 December 2019

The government in Sofia hopes to finish the project within 10 years at a cost of up to €10bn, but critics question its economic viability.

Europe's nuclear power debate heats up as climate emergency grows closer

17 December 2019

The new European Commission has set a target of net-zero carbon emissions by 2050 to avoid a climate disaster, but the target is controversial as the only way to get there is to ramp up the role nuclear power plays in producing Europe’s electricity.

Poland spared commitment to EU 2050 climate neutrality goal – for now

13 December 2019

The EU will strive to reach climate neutrality in 2050. Poland was the only country not to sign up for the goal and the discussion on how to get Warsaw on board will resume in June.

Estonia and Latvia mull 1 GW offshore wind project

10 December 2019

Offshore wind farm to add to low-carbon energy sources in the Estonian and Latvian energy mixes, in line with the EU’s climate goals. Estonia’s electricity production currently relies on burning oil shale and is among the dirtiest in Europe.

Poland launches huge renewable energy auction in bid to improve energy mix

6 December 2019

Polish energy market regulator URE launched an auction for up to 2.5 gigawatts of onshore wind power capacity as Warsaw seeks to meet the EU-required target of a 15% share of renewable energy in final energy consumption by 2020.

Poland’s oil and gas giant Orlen plans takeover of utility Energa

6 December 2019

PKN Orlen aims to build a strong group capable of competing on the international market, but takeover plans raise questions about Energa’s controversial project to build a major new coal-fired power plant.

Rosatom rolls out the small modular reactor: a mini-nuclear power station to solve some big problems

26 November 2019

Time is running out for the planet. Next year is a crunch year when CO2 emissions must peak if we are to avoid an ecological disaster. Nuclear power is one of the few options we have. So Rosatom is rolling out small modular reactor (SMR).

Czech senator refers CEZ' sale of Varna TPP to Bulgaria’s prosecution

24 November 2019

Lukas Wagenknecht has asked the prosecution in Bulgaria to probe the deal due to suspicions that it was intentionally closed at a price that was not beneficial for state-owned CEZ.

Russian Rosatom nuclear agency eyes maritime shipping market

22 November 2019

Russian state nuclear power agency Rosatom is planning a massive expansion in the maritime shipping market with an investment of up to $7bn

Hungary’s Opus in talks to sell coal-fuelled power plant Matrai Eromu

20 November 2019

Matrai Eromu has incurred losses due to rising carbon prices, and its future is in danger as a result of tighter rules on carbon-powered plants in the EU.

Poland says key decisions on nuclear power plant just months ahead

19 November 2019

The ruling PiS heralded the construction of up to six nuclear reactors by the 2040s in a move to reduce the dependence of the Polish economy on coal, which currently dominates in the national energy mix.

Montenegro launches undersea power link to Italy

17 November 2019

First "electrical bridge" from Western Balkans to the rest of Europe is expected to generate export revenues for Montenegro and its neighbours as they step up investment into renewable energy.

Czech CEZ’s Turkey-listed JV restructures $854mn loan with Yapi Kredi Bank

12 November 2019

Markets, meanwhile, draw breath as Erdogan prepares for November 13 White House meeting with Trump. Betting is that the two strongmen will reach an accommodation.

Montenegro's WVC to build 100 MW kinetic power plant

11 November 2019

Montenegro has substantial hydropower capacity but is looking to develop other forms of alternative energy.

Georgia’s Bitcoin mining “sucking its power grid dry”

6 November 2019

Grey economy businesses “patronised by high-ranking officials” have set up in Svaneti region where locals receive free electricity because of the degree of hardship.

Serbia to invest €1bn to meet EU’s environmental protection standards

28 October 2019

Serbia's ultimate goal is to make all its energy facilities compliant with EU environmental standards, as it aims to join the bloc by 2025.

Bulgaria’s competition watchdog bans sale of CEZ’ assets to Eurohold

24 October 2019

Czech utility's second attempt to offload its Bulgarian assets is blocked by regulator, which warns deal would cause a "significant deterioration" of market competition.

Enel Russia sells its biggest coal-burning power station as it goes green

24 October 2019

Russia’s biggest foreign-owned utilities company has finally sold its Reftinskaya power station for an undisclosed amount as part of its efforts to “go green” as well as become more profitable.

Russia engages Africa on nuclear power

23 October 2019

The Russia-Africa Summit in Sochi opened on October 23, with Moscow seeking to increase its engagement with Africa in a number of areas.

GE Hitachi Nuclear Energy announces cooperation with richest Pole on small modular reactor for Synthos

22 October 2019

GE Hitachi Nuclear Energy has signed an agreement with Poland’s chemical giant Synthos, owned by the richest Pole Michal Solowow, on the potential construction of a small modular reactor.

Ukraine expects to more than double its renewable capacity in 2019

22 October 2019

Ukraine has already been investing heavily in the renewable sector, and the goal of the government's renewable energy strategy is to reach 25% renewables by 2023.

Central Asia’s electricity network – underpowered and fragmented

21 October 2019

Power planners were left with major headaches when the demise of the Soviet Union caused all Central Asian Power System (CAPS) member states to scramble to remake their grids along national lines. However, pan-region ideas are now back in fashion.

Lithuania considers banning purchases of electricity from Belarus’ nuclear power plant

20 October 2019

President Gitanas Nauseda says he wants to prevent countries with “unsafe nuclear power plants” from exporting electricity to Lithuania, but fellow Baltic states Estonia and Latvia appear not to share his concerns.

Tajikistan’s massive Rogun hydropower dam: a blessing or a curse?

18 October 2019

Poorest Central Asian nation Tajikistan is in danger of defaulting on its first ever Eurobond as the construction of the giant Rogun hydropower dam gobbles up scarce resources.

Rosatom to use latest nuclear tech in Egypt

9 October 2019

Rosatom has confirmed that it is to use its latest nuclear technology to build a 4,800MW nuclear power plant in Egypt.

Hungary utility-scale solar capacity reaches 1.1GW

7 October 2019

Hungary can rely on two energy sources, nuclear and solar energy to meet the climate goals set out in the Paris Agreement, said President Janos Ader recently.

Russia renews nuclear offensive in Africa

2 October 2019

Rosatom is fostering closer atomic energy ties to Africa as Moscow shows off its new green credentials

Uzbekistan’s five-year goal to overhaul its energy industry

2 October 2019

The relaxation of Uzbekistan's energy industry’s ownership has created a bonanza of redevelopment projects set to be completed in the next five years. These projects including energy generation and a general liberalisation of state ownership

Poland cannot afford climate neutrality goal in 2050 minister says

2 October 2019

Poland’s energy sector would need €300bn-€400bn for transformation towards carbon-neutrality while the price tag for the entire Polish economy to meet the EU’s climate ambitions could be €700bn-€900bn, Energy Minister Krzysztof Tchorzewski said.

Poland launches its first new coal mining operations in 25 years

27 September 2019

Poland opened its first new coal-mining facility Bzie-Debina since 1994 this week, built by the biggest EU producer of coking coal Polish mining company Jastrzębska Spółka Węglowa (JSW) near the town Jastrzebie-Zdroj, close to Czech border.

Moldova signs €264mn funding package to connect to Romania’s power grid

27 September 2019

Project is of critical importance for the diversification of Moldova’s electricity supply — but highlights the need for more generation capacity in Romania.

The cost of carbon in Russia, braced to implement the Paris Accord

26 September 2019

Russia ratified the Paris Climate Accord on September 23, committing itself to reducing CO2 emissions to 70% of the 1990 levels. Massive forests and investment into improving energy efficiency have left Russia in a strong position to reduce CO2.

Turkey “barely trying” to cut carbon emissions says National Geographic

25 September 2019

“Climate change report card” notes, for instance, that country is pushing ahead with huge expansion of coal-fired plants. Meanwhile, largest lake in the Mediterranean region, Beysehir, seen as on course to dry out by 2040s.

Russia signs off on Paris accord, sets itself an easy CO2 target

24 September 2019

The Russian government has ratified the 2015 Paris Agreement on combating climate change, committing itself to reducing carbon dioxide emissions to 70% of 1990 levels by 2030.

Czech energy giant CEZ buys a stake in German solar start-up Zolar

11 September 2019

CEZ executive calls Zolar the "pioneer of an innovative, decentralised model for purchasing rooftop solar systems".

Turkey’s banking association expects $10bn of electric utility loan restructuring this year

10 September 2019

Energy companies left up to their necks in debt by lira crisis.

floating nuclear first for Russia

27 August 2019

Russia’s Akademik Lomonosov, the country’s pioneering floating nuclear power plant, set sail from Murmansk on August 23 bound for Pevek, Chukotka, via the Northern Sea Route.

Albania’s net power generation plunges 53% y/y in 2Q19

26 August 2019

Unfavourable weather conditions this year limited production at Albania's main hydropower plants, while electricity imports soared.

Japan’s SoftBank invests $110 in energy storage

20 August 2019

Softbank’s $100bn Vision Fund has made its first investment in energy storage technology by backing Swiss-based energy storage start-up Energy Vault with $110mn.