Clarion, recognized player in the renewable energy sector, is building its identity on providing technically credible and financially relevant expertise to investors, banks, and funds.
In an Interview with a Member on the RES Serbia portal, Clarion Owner’s Engineers Director Jelena Šormaz discusses the company’s role in the Crni Vrh and Jasikovo wind park projects, the challenges of working in complex conditions, and the importance of independent technical supervision in Serbia’s energy transition.
Clarion has relatively recently appeared in the RES sector and the business world in general. How was Clarion founded and on which core activities do you build your business identity? What services do you offer to the market today?
— Clarion was founded as a response to the growing need of the market for a highly specialized, engineering-driven approach to the development and implementation of projects in the renewable energy sector. The founding team consists of experts with long-standing experience in power engineering, project development, and investment management, who recognized the gap between investors, contractors, and the regulatory framework.
From the very beginning, Clarion has been strategically positioned as a regional partner working exclusively with private investors, banks, and investment funds. Our focus is not on developing projects for our own portfolio, but on providing independent, technically credible, and financially relevant expertise to clients investing capital in projects across Southeast Europe.
Our activities largely rely on experience gained through concrete projects in Serbia and the region since 2014, when a more intensive investment cycle in renewables began. That period was crucial for shaping the market, but also for acquiring practical knowledge through work on projects that were often pioneering and organizationally complex. It was precisely through such projects that we built the approach we apply today – based on real experiences, learned lessons, and understanding of the local regulatory and operational environment.
It is important to emphasize that our expertise does not come only from RES projects, but from a broader spectrum of sectors – energy, mining, and industry. These are complex technological systems with a large number of interdependent factors, which often exceed the complexity of energy facilities themselves. Such experience enables us to view projects holistically – from technical details to the broader industrial logic in which they operate.
In this sense, Clarion participates in projects at different stages of their life cycle and in different roles, depending on client needs. In the early development phase, we support investors through technical and commercial due diligence, risk assessment, design optimization, and grid connection analysis. In the financing phase, we cooperate with banks and funds as technical advisors, ensuring validation of key project assumptions, CAPEX/OPEX structures, and technical sustainability.
During construction, we take on the role of Owner’s Engineer, supervising design, execution, and compliance with contractual and regulatory requirements, protecting the interests of investors and financiers. In the final stages, we are involved in testing, commissioning, and performance verification, as well as operational risk analyses.
Our business identity is built precisely on this ability to translate experience from complex energy and industrial systems into concrete value for investors – through risk reduction, greater certainty of realization, and better-informed investment decisions.
In the RES sector, your company is known for its role in the implementation of the Crni Vrh wind park, a member of the RES Serbia Association. What part of the work do you perform on this project, what experiences do you carry, and what has proven to be the biggest challenge?
— On the Crni Vrh wind park project, we are engaged as technical advisor and Owner’s Engineer, which includes supervision of design, construction, and compliance with transmission system operator requirements. Our focus was on ensuring that the project meets all technical standards, particularly in grid connection, testing, and performance verification, while continuously protecting investor interests throughout the realization process.
What makes this project somewhat unique are the conditions at the site. The Crni Vrh wind park is being built on complex mountainous terrain, at an altitude above 1,000 meters, where weather conditions are highly variable – it is practically possible to experience all four seasons in a single day. Such an environment significantly affects logistics, work dynamics, and site organization.
One of the biggest challenges was coordinating the development of supporting infrastructure – access roads, transport corridors, and turbine installation platforms – which had to be aligned with the phases of equipment delivery and installation. In mountainous conditions, where work windows can be limited, any delay in one phase directly impacts the entire chain of activities.
Additionally, construction and installation processes themselves posed significant challenges, taking place under complex weather and technical conditions. Transporting and installing large turbine components, working at height, and the need for precise execution required a high level of planning, coordination, and real-time adaptation.
This experience further confirmed the importance of having an integrated project management approach, where technical, logistical, and timing aspects are viewed as a single whole rather than separate segments.
When can the trial operation of the Crni Vrh wind park be expected?
— Trial operation of the Crni Vrh wind park can be expected after completion of all key installation and testing phases, including complex grid compliance procedures. In real conditions, this phase often depends on the dynamics of testing and approvals by the system operator, but it can roughly be expected immediately after technical acceptance and initial functional tests.
When do you plan to start construction of the Jasikovo wind park, where you are also engaged?
— The start of construction of the Jasikovo wind park primarily depends on the finalization of all permits, financial closure, and contractual arrangements with contractors. At this moment, the project is in the preparation phase, and construction can be expected once these key prerequisites are met, which is the usual dynamic for projects of this size and complexity.
You worked for a long time in Elektroprivreda Srbije. How does the experience from a state-owned company differ from working in the private sector?
— Working in Elektroprivreda Srbije provides a deep understanding of the functioning of the power system, regulatory framework, and operational procedures, which represents a strong foundation for further professional engagement. Of course, given the size of the company and the existence of many sectors, the experience depends on which sector one worked in. I was fortunate to first lead the procurement department for South Banat in the then Elektrovojvodina, where I had the opportunity to “borrow” both economic and technical knowledge from the then procurement director Dragan Matić, as well as from distribution director Biljana Komnenić.
After that, I moved to Belgrade to the Public Procurement Sector of EPS and finally to the Key Investment Projects Sector, where, in addition to procurement of large EPS investment projects, I also entered the field of project management. That sector was part of EPS but under the leadership of Vladimir Marković functioned like a private company, where everything was organized, everyone knew their role, and nothing was left for tomorrow. That was a good foundation for my transition to the private sector.
A particularly important segment of experience from EPS is reflected in projects financed by international financial institutions and commercial banks. Such projects involve complex procedures and methodologies, clearly defined technical and contractual standards, as well as strict requirements regarding quality control and monitoring of implementation. Financiers in these processes have very precise criteria – from validation of technical solutions and CAPEX structures to monitoring of works, testing, and commissioning.
In this context, the experiences gained on large infrastructure and energy facilities in earlier periods represent my key advantage, as they enable understanding of how all these processes can be integrated into one functional whole. Managing complex projects requires simultaneous understanding of technical details, contractual relations, and financier requirements, which is precisely what differentiates administrative from truly operational project management.
An additional dimension is provided by our colleagues who participated in projects in the European Union, Africa, and Asia, in cooperation with international creditors and contractors. These experiences confirm that the role of Owner’s Engineer and Engineer for financiers (Lender’s/Independent Engineer) is becoming a standard in energy project implementation, as a mechanism for risk control and quality assurance. This trend is increasingly visible in our region, where investors and financiers are insisting more and more on independent technical supervision as a key element of successful project realization.
In your opinion, who should be the driver of Serbia’s energy transition – EPS as the national giant or private companies that are faster in decision-making and realization of new RES capacities?
— Serbia’s energy transition is a complex and multi-layered process in which there is no single driver, but rather a whole range of interconnected actors who together determine its pace and quality. EPS certainly has a key role as the national power system, especially in providing base production, system stability, and managing large infrastructure capacities. However, EMS, as the transmission system operator, is equally important, with its central role in safeguarding energy security and grid reliability, as well as enabling integration of new RES capacities.
At the same time, practical experience shows that creditors – banks and investment funds – are equally important participants, as they largely shape the way projects are developed and implemented through their requirements, methodologies, and criteria. Their focus on risk management, technical validation, and quality control often sets standards that go beyond local regulations and raise the overall level of the sector.
We must not overlook the technical and human capacities that make this process possible. Engineers, designers, contractors, and all operational participants form the foundation of realization, because without adequate knowledge and experience, without concrete projects, neither capital nor regulatory frameworks can be effectively implemented on the ground.
From our experience on projects in the European Union, it is clear that private capital, especially from industrial companies, is one of the main drivers of investment in new energy production capacities. Industry invests not only for diversification, but also out of the need to secure long-term stable and competitive energy sources, which directly affects its market position.
Precisely in response to the needs of clients and partners from the EU, Clarion last year began preparatory activities for the application of the CBAM mechanism, focusing on the requirements of industrial consumers and producers. CBAM will significantly influence further development of the energy sector in Serbia and the region, as it introduces a new dimension in the relationship between energy and industry, particularly in the context of carbon costs and export competitiveness.
The complexity of this mechanism, as well as its interdependence with the electricity market, industrial production, and the EU regulatory framework, represents a challenge for companies both in Serbia and in the European Union. Although their roles differ – from producers, to investors, to energy consumers – their interests are largely aligned: securing a stable, predictable, and regulatorily compliant energy environment that enables long-term planning and investment.
