CWP and Mercuria Energy Trading have formed a joint venture, aimed at completing the development and build-out of CWP’s renewable energy pipeline in south-east Europe.
It comprises over 2GW of large-scale wind, solar and battery storage projects in Bulgaria, Serbia, Romania and Ukraine.
Heavily reliant on coal, the four countries are in need of urgent decarbonisation and Mercuria’s strategic investment in CWP should help to accelerate the transition.
"We see a tremendous opportunity in these markets, where a massive amount of expensive and polluting coal needs to be replaced with renewables as quickly as possible," said Dimitar Enchev, CWP Europe's CEO.
CWP has long been active in the region, having developed both Serbia’s and Romania’s largest wind farms, the 158MW Čibuk 1 Čibuk 1 (158MW) OnshoreMramorak, Vojvodina, Serbia, Europe Click to see full details and the 600MW Fântânele-Cogealac-Gradina Fântânele-Cogealac-Gradina (600MW) OnshoreConstanța County, Romania, Europe Click to see full details respectively. Its most recent acquisition, the 73MW Prydniprovski Prydniprovski (73MW) OnshoreKherson Oblast, Ukraine, Europe Click to see full details project in the Kherson region, marked its entry to the Ukrainian market.
As one of the world’s largest independent energy and commodity groups, Mercuria brings significant expertise in the energy and renewables markets. Over the next five years, it aims to direct half of its investment towards the energy transition.