Electricity production in the Western Balkans at the moment is mostly dependent on coal. Despite the fact that all Balkan countries have shown a strong commitment to boost their quota of renewable energy sources by 2020, to reach between 25% and 40% of their energy mix, coal-fired thermal power plants still play the key role in generating the country’s energy. Despite improvements in policy and regulatory frameworks, the region is still facing challenges in attracting more investments other than fossil energy projects and this is blocking the full transition to renewable energy and energy efficiency.
But Balkan renewable energy is set to grow. Unquestionably, the region has a high potential for deployment of energy production from renewable sources, including water, wind or bioenergy. Thus, against the background of competitive traditional energy price levels, how is the SEE’s renewable market going to shape up in the immediate future to stay competitive? What are the critical elements to mobilise more finance in the region?
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