At the end of 2025, the Kostolac wind park with a capacity of 66 MW was put into trial operation, marking the first time in its history that Elektroprivreda Srbije began using wind as an energy source. A few months earlier, the Petka solar power plant (10 MW) had also entered trial operation, thereby joining the growig number of power utilities worldwide that are investing in the development of wind and solar energy.
On this occasion, RES Serbia examines how far regional power utility companies have advanced in the development and construction of their own solar and wind capacities.
After a long period of reliance on coal and large hydropower plants, utilities in the region have begun to develop wind parks and solar power plants, with many already having a decade of experience in implementing such projects.
However, as RES Serbia’s analysis shows, they differ significantly in their choice of technologies and in the pace of development and construction. What they share in common is that the first state-owned wind parks have capacities of 50–70 MW, while solar power plants are mostly connected to the electricity distribution system. Financing also largely comes from similar sources — loans from international financial institutions, EU grants, and their own funds.
Slovenia does not have any state-owned wind power plants, and the private sector has not recorded significant progress in wind energy projects. At the same time, Slovenia is planning the construction of the largest floating solar power plant in Europe.
Albania is not lagging behind in innovations, installing solar panels on the surface of a hydropower dam, a practice also being implemented by Montenegro.
North Macedonia was the first in the region to commission a wind power plant, accompanied by ambitious plans in the field of solar energy.
Montenegro currently does not have any green megawatts in state ownership, but as early as 2026, with the commissioning of the Gvozd wind park and the power plants from the ambitious Solari projects, it could take a leading position based on the criterion of the percentage share of renewable energy projects.
The following is an overview of the investments, capacities, technologies, and plans of power utility companies from Serbia, Croatia, Slovenia, Bosnia and Herzegovina, Montenegro, North Macedonia, and Albania. The analysis was prepared based on official data from the websites of regional power utilities and in consultation with colleagues from partner associations.
Serbia – Kostolac wind park opens a new chapter in energy transition
After years of preparations, EPS put into operation its first RES capacities in Kostolac in 2025.
The Kostolac wind park, with an installed capacity of 66 megawatts, and the 10 megawatt Petka solar power plant together brought 76 megawatts of renewable energy to the system. A former coal dump has been turned into a wind turbine field, while the depleted mine has become a solar park, so the space that has been a symbol of the mining industry for decades has now become a symbol of the energy transition.
Elektroprivreda Srbije – Petka SPP
The Kostolac wind park consists of 20 Siemens Gamesa wind turbines. The value of the investment is 144 million EUR, and it is financed by a loan from the German Development Bank (KfW) and a grant from the European Union (30 million EUR) and EPS funds. The Kostolac wind park is in the system of incentives (feed in tariff).
EPS already owns a 330 kW Lazići Dam photovoltaic power plant in Zaovine, which has been operational since 2017.
EPS plans to build six solar power plants with a capacity of 1GW with a 200 MW battery storage system.
Elektroprivreda Srbije – Kostolac Wind Park
Croatia – Wind Park Korlat outside the incentive system
Korlat, as the first wind park in the history of Hrvatska elektroprivreda (HEP), was put into operation in 2018 and has been outside the incentive system from the beginning. The connection capacity of the wind park is 58 MW, while the average annual production is 161 GWh. The total value of the investment amounted to about 67 million EUR.
The Korlat wind park consists of 18 Nordex wind turbines with an individual capacity of 3.6 MW.
Currently, the Korlat solar power plant is being built at the nearby location, with a capacity of 99 MWp and a projected annual production of 165 GWh.
In addition, HEP is rapidly expanding solar production through two models: non-integrated solar power plants, which are completely independent production facilities, and integrated solar power plants, which are installed on facilities that are already part of the energy system, such as hydroelectric power plants, substations and industrial complexes.
Slovenia’s focus on solar power plants
Slovenia is specific in that it does not have a single state-owned wind parl, and the private sector is not making significant progress in this field. The development of wind is limited by geographical and environmental factors, as well as strong resistance from local communities. Instead, the country is strategically focused on solar power plants. State projects are located within the energy holding Slovenske elektrane (HSE).
The Prapretno solar power plant, commissioned in 2021, was built on the site of the former landfill of the Trbovlje thermal power plant. With a capacity of 3,036 MW and an annual production of 3,362 MWh, this power plant supplies about 800 households.
The Družmirje solar power plant is under construction, which will be the largest floating solar power plant in Europe with a capacity of about 140 MW. Set on mining lakes and tailings, it shows how degraded lands can be converted into energy resources. This makes Slovenia a pioneer in floating solar technology.
In addition to large projects, HSE also operates a number of smaller solar power plants, which are often installed on the roofs of schools, administrative buildings or within hydropower plants, making the most of existing infrastructure.
Bosnia and Herzegovina – Wind Park Hrgud will be the first large wind park of the Republic of Srpska
The first wind park on the territory of Bosnia and Herzegovina is the Mesihovina wind park near Tomislavgrad, with a capacity of 50.6 MW, which was put into operation in 2018 by the Electric Power Industry of HZ BiH. It consists of 22 Siemens wind turbines, and the value of the investment is EUR 81 million obtained from a kfW loan and public financing. The same company plans to build the Poklečani wind park, as well as its first large solar power plant with a capacity of 150 MW.
EPBiH has built the Podveležje Wind Park, which, with its 15 wind turbines with a total capacity of 48 MW, produces about 120 GWh of electricity per year. Electric Power Industry of Bosnia and Herzegovina plans to build new solar power plants – Gracanica 1 and 2, with a planned capacity of 45 MW with an annual production of more than 66 GWh, the implementation of which is supported by loan arrangements with the European Bank for Reconstruction and Development. In parallel, projects such as the Bitovnja wind park (up to 90 MW) and the Vlašić wind park (up to 50 MW) are being prepared.
The Hrgud Wind Power Plant will be the first large wind park of the Electric Power Industry of the Republic of Srpska, designed as a key part of future energy development, with an installed capacity of 48 MW and an average annual production of about 126 GWh. The construction of the Trebinje Solar Power Plant with an installed capacity of 100 MW and an average annual production of 147.7 GWh is also planned, while the estimated investment amounts to 134.43 million BAM.
Montenegro – Gvozd Wind Power Plant one of the most Important wind energy projects in the region
The Gvozd wind park, which is expected to be put into operation soon, is one of the most important wind energy projects in the region, with a total installed capacity of 54 MW. The installed capacity per turbine is 7 MW, and the expected annual production is about 150 GWh of electricity. The wind park is known for the tallest tower in Europe with a height of 120 meters, with a propeller length of 85 meters. At the same time, the Gvozd 2 wind park with a capacity of 21 MW is being developed.
EPCG – Gvozd Wind Park
In parallel, EPCG is developing intensive solar programs. EPCG-Solar-Gradnja, which is part of the EPCG Group, installs hundreds of smaller and larger solar power plants, including system solar parks, first through the Solari 3000+ and 500+ projects, which present real opportunities for energy and financial savings to the citizens of Montenegro.
In 2026, two EPCG solar power plants with a capacity of 4.8 MW each are expected to be commissioned. EPCG has installed solar panels on the dams on Lake Slano near Nikšić and on the Vrtac dam.
North Macedonia – Bogdanci Wind Park for 60,000 households
The Bogdanci Wind Park, the only wind park owned by the North Macedonian Power Plant (ESM), was completed in February 2014. 16 Siemens wind turbines with a capacity of 2.3 MW each have been installed on the wind park. The Bogdanci wind park produces about 100 GWh of electricity per year, enough for more than 60,000 households, with a total capacity of 36.8 MW. The next phase envisages the construction of 4 to 6 new turbines with a total capacity of 13.8 MW, with a production of 37 GWh per year, with accompanying access roads and cable infrastructure.
When it comes to solar energy, a state-owned photovoltaic power plant Oslomej 1 with a capacity of 10 MW was built on the site of a former open-pit coal mine, which is part of an ambitious 120 MW plan. Annual production is currently 15-17 GWh, which is enough to supply approximately 2,800 households.
The project was implemented with blended financing: the European Bank for Reconstruction and Development (EBRD) provided a loan of around €5.9 million, while the Western Balkans Investment Framework contributed an additional €1.6 million in support.
Recently, an agreement was signed on the financing of the state-owned solar power plant Bitola 3 with a capacity of 134 MW, for which funds in the amount of EUR 87 million were provided by the EBRD and kfW.
Albania – Solar panels installed on the surface of a hydroelectric power plant dam
Albania, with an energy system that relies almost entirely on hydropower, has been rapidly developing solar power plants in recent years to reduce the risks of hydrological fluctuations.
The Albanian Energy Corporation (KESH) is a public producer and at the same time the largest producer of electricity in Albania. The Qyrsaq Solar Power Plant is KESH’s first large-scale solar power plant with a capacity of 5 MWp. Solar panels are placed on the surface of the hydroelectric dam, so this innovative approach combines two renewable energy sources: hydropower and solar energy. Qyrsaq was put into operation in February 2022. The plant is operating at full efficiency and contributes to the diversification of KESH’s production portfolio. Annual production is 7,019 MWh, which is enough electricity for 1900 households.
Two larger solar plants are also in preparation. The Belsh project, funded by WBIF, envisages the installation of a 50 MW onshore solar power plant. The plant is expected to produce about 79 GWh of electricity per year, equivalent to the annual consumption of 16,100 average households. The Zadeja Solar Power Plant is another project that combines solar and hydropower in one system. The photovoltaic power plant will have a capacity of 8.25 MWp at the Zadeja dam of the Vau and Dejes hydroelectric power plants.
Investments in larger projects are left to the private sector
The analysis of RES Serbia shows that the region’s power companies have made significant first steps towards renewable sources in terms of investments. What they have in common is that they opted for European manufacturers of wind turbines, and that the financing was partly provided by the funds of international financial institutions, donations and their own money, without the major influence of commercial banks. It is interesting that all of them and countries have found a measure in projects with a capacity up to 100 MW, while they leave investments in larger projects to the private sector by buying cheap electricity from them.