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MT-KOMEX 2025: A Year of Technological Breakthroughs and Regional Expansion

17.01.2026

Delasol_040- Djordje_Stojiljkovic — Photo: Djordje Stojiljkovic

Numerous completed projects, technological breakthroughs, a substantial shift toward battery energy storage systems and tracker technologies, and expansion into regional markets marked 2025 as a turning point in the development of MT-KOMEX. Deputy Director Nikola Grubor speaks about the company’s achievements, key innovations, plans for 2026, and future trends in the solar industry.

Q: MT-KOMEX is certainly behind another successful year. Can we say that 2025 was the most successful year so far?

A: Without a doubt, this has been our most successful year to date—a year in which we delivered some of the most technologically complex solar projects, introduced new solutions, expanded our regional presence, and further confirmed our leading position in EPC services, prefabricated substations, and advanced solar technologies.

I would say that 2025 marks the year in which MT-KOMEX entered a new phase of development—from a strong domestic EPC partner to a company that is actively building and shaping the region’s energy transition.

Q: Which project or achievement would you highlight as the company’s most significant contribution to Serbia’s energy transition during 2025?

A: Throughout 2025, we implemented several projects that directly contribute to reducing CO₂ emissions and increasing the energy independence of the business sector. I would particularly highlight large-scale commercial solar power plants in the industrial sector, which today represent one of the key pillars of energy efficiency for domestic manufacturers.

Our prefabricated substations—such as the Huawei Jupiter 3000 model—also deliver significant added value, enabling faster grid connection and greater reliability of renewable energy facilities. These solutions substantially shorten project timelines and reduce the infrastructure burden for investors. The EPC approach MT-KOMEX has applied from the very beginning remains one of the key reasons investors recognize our company as a partner that delivers comprehensive, safe, and long-term, sustainable solutions.

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Q: When it comes to innovation, MT-KOMEX has traditionally been at the forefront of applying advanced solar technologies. What new solutions did the company introduce or implement in 2025?

A: Investing in innovation is a continuous process for us. This year, particular attention was drawn to the development and deployment of advanced inverters and optimizers, as well as the large-scale implementation of battery energy storage systems (BESS), which we introduced across all new projects. The integration of SCADA systems and remote monitoring platforms has become standard practice. At the same time, further improvements in prefabricated substations have further optimized the construction and grid connection process for solar power plants.

One of the most significant breakthroughs in 2025 was the start of construction of large-scale solar power plants equipped with single-axis tracker systems. We expect that by the end of next year, 50 MWp of such facilities will be completed and commissioned in Vojvodina.

Tracker systems deliver a range of benefits:

an increase in energy production of 15–25 percent compared to fixed-tilt structures,
more uniform power generation throughout the day,
better utilization of solar irradiation in flat terrain,
a lower LCOE over the entire lifecycle of the power plant.

For our clients, this means a faster return on investment, as well as higher energy output during periods of peak demand, when electricity prices on the market are at their highest.

Q: What are the key plans, projects, or investments that MT-KOMEX is planning for 2026?

A: In 2026, MT-KOMEX plans further growth through the construction of an even larger number of commercial solar power plants, the expansion of its BESS solutions portfolio, the strengthening of EPC and engineering teams, new investments in prefabricated solutions and energy infrastructure, as well as continued expansion into regional markets.

The coming year will be marked by intensive construction activity, new partnerships, and an even stronger position for the company in the energy sector of Southeast Europe. The solar industry is entering an accelerated phase of development in 2026. Commercial power plants, hybrid systems, battery capacities, and digitalization are becoming the norm. For MT-KOMEX, this represents both an opportunity and a responsibility—to continue introducing state-of-the-art solutions, to develop the market, and to build an energy future based on stability, efficiency, and sustainability.

One of the key indicators of the company’s development is the fact that during 2025, we procured 100 MW of premium equipment, including:

Huawei prefabricated substations,
Huawei 300 kW inverters,
AIKO solar panels—currently among the best on the market in terms of efficiency and degradation rates,
complete mounting structures for solar power plants.

All of this equipment has been delivered, installed, and commissioned, or is currently under construction, enabling us to achieve the highest utilization rate of procured equipment in the company’s history.

Q: MT-KOMEX operates successfully across the region, particularly following the establishment of MT-KOMEX BH in 2023 in Banja Luka. What are the company’s further plans regarding expansion and strengthening its regional presence?

A: MT-KOMEX BH, established in 2023 in Banja Luka, proved in 2025 to be a strategic move that entirely delivered on expectations. Our team in Bosnia and Herzegovina is expanding. We are taking on large-scale solar projects in the Republic of Srpska and are actively analyzing entry into the Croatian and Montenegrin markets. The prefabricated energy solutions we develop position us as a trusted partner at the regional level as well.

Q: How do you see the outlook for the solar industry in Serbia over the coming year, and which key changes or market trends do you expect?

A: Electricity prices on the power exchange, along with the volatility that characterizes European markets, clearly indicate that projects incorporating tracker systems and BESS solutions will be of decisive importance in the coming years. Serbia is expected to adopt regulatory frameworks that will enable the ancillary services market and define the role of flexibility aggregators, which means that battery systems will become a key component of the energy mix for industrial consumers.

As our market becomes increasingly integrated with the European market, we also expect the emergence of negative electricity prices—a trend already commonplace in EU countries. These periods will be ideal for charging battery systems, while discharging will be most profitable during times of high demand.

For our clients, this delivers a dual value proposition: supply stability and additional revenue through market-based mechanisms.

Interview by Milena Maglovski

The interview was published in Energy portal Magazine RESPONSIBLE BUSINNES

Talks on the acquisition of NIS under way, agreement expected by the end of the week

16.01.2026

nis, rafinerija nafte Pančevo, — Foto: NIS

Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović, said that talks are currently under way between the Russian shareholders of Naftna industrija Srbije (NIS), Hungary’s MOL, and other potential buyers, adding that a binding agreement on the purchase of NIS shares could be signed by the end of the week.

Following a meeting with Hungary’s Minister of Foreign Affairs and Trade, the minister stated that once agreement is reached on the key elements of the transaction, a request will be submitted to the US administration to extend NIS’s operating licence. She noted that Hungary has so far supported Serbia in these requests, with the aim of ensuring the company’s continued operations after January 23 and the successful completion of the ownership restructuring process, according to a statement published on the website of the Government of Serbia.

Đedović Handanović also said that increasing Serbia’s ownership stake in NIS by around five percentage points is being considered, stressing that there is no intention to shut down the Pančevo oil refinery. She added that during nearly 100 days without crude oil supplies via the Adriatic Oil Pipeline, security of supply had been maintained, and that the Pančevo refinery is expected to continue operating now that deliveries via JANAF have resumed.

The meeting also addressed accelerating the drafting of an intergovernmental agreement between Serbia and Hungary, as well as joint energy projects, including the construction of the Serbia–Hungary oil pipeline, with works expected to begin in mid-year.

Hungarian Foreign Minister Péter Szijjártó confirmed that negotiations between Gazprom Neft and MOL are under way and expressed strong support from the Hungarian government for a potential entry of MOL into NIS’s ownership structure, saying this would contribute to greater regional energy security.

Energy portal

Local Communities as the First Line of Defense for Nature and Climate

14.01.2026

WWF Adria is one of the leading nature conservation organizations in the Western Balkans, dedicated to biodiversity protection, sustainable natural resource management, and strengthening community resilience to the impacts of climate change. Through science-based work, advocacy, and strong partnerships, WWF Adria addresses the most serious environmental challenges of our time—shaping public policies, strengthening civil society capacities, and developing innovative solutions that protect both people and nature.

One of the flagship initiatives in this field is the “Safe Nature and Climate” project, designed to address the growing threats to ecosystems, biodiversity, and local communities posed by climate change and unsustainable practices. The project focuses on strengthening institutional and local foundations for action in the areas of environmental protection and climate change across the region, with financial support from the European Union.

Supporting local environmental organizations lies at the very core of effective action on the ground. These organizations best understand the specific environmental and social contexts of their communities and therefore play a crucial role in driving change. Through targeted funding, knowledge exchange, and partnership programs, WWF Adria strengthens their participation in public policy development, monitoring of natural resources, and the implementation of solutions tailored to local needs.

Over the past four years, a total of 41 projects have been implemented, with overall investments in civil society amounting to €500,000. The results encompass a wide range of innovative and impactful activities—from the development of new regulatory frameworks, participatory monitoring, and local nature conservation and climate action initiatives, to educational programs, large-scale awareness-raising campaigns, and initiatives that have led to concrete legal changes at the local level.

Local initiatives from Paraćin, Užice, Novi Pazar, Pirot, Kragujevac, Kraljevo, and many other cities now benefit from renewed support for their activities, strengthening community resilience and fostering coexistence between people and nature.

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Through the “Safe Nature and Climate” project, WWF Adria has built a strong bridge between local initiatives and the broader regional and European policy framework. The results and experiences achieved so far were also presented at the third Environmental Policy Forum “Local Solutions for (Inter)national Policies,” held in November this year.

The Forum brought together representatives of civil society, policymakers, climate and nature conservation experts, and numerous representatives of international institutions and organizations. The central focus was clear—strengthening local capacities and identifying sustainable, inclusive solutions that connect local initiatives with national and regional environmental protection and climate resilience policies.

Hari Osting, Acting Director of the Conservation Program at WWF Adria, highlighted the importance of local organizations as key drivers of change, whose work directly contributes to improving policies, enhancing natural resource management, and strengthening community resilience to the impacts of climate change.

The first panel, “Locally Led Biodiversity Conservation,” emphasized the irreplaceable role of local actors in nature protection and sustainable resource management. Initiatives were presented that aligned local policies with EU directives, developed models of sustainable forest management, used drones and modern technologies to monitor environmental conditions, and established networks of organizations managing freshwater protected areas and ecological corridors. Participants also pointed to challenges, such as the inertia of certain local authorities, which often hinder the implementation of changes in the interests of nature and citizens.

The panel “Raising Public Awareness and Engaging Local Communities” focused on communication, education, and citizen involvement. Campaigns reaching more than two million people were presented, along with the development of mobile applications for reporting environmental issues and educational programs targeting young people, women, minority groups, and other vulnerable populations. It was concluded that informed and empowered communities are the key to longterm change and to building a culture of care for nature.

Within the third panel, “Local Climate Action,” the focus was on concrete local responses to climate challenges—from developing local environmental protection plans and participatory models for managing climate risks to specific actions such as preventing the construction of small hydropower plants in sensitive areas. Models of sustainable agriculture and rural development aligned with the EU Rural Pact were also presented, along with studies on microplastics and initiatives linking climate change to human rights issues.

– Local organizations are the backbone of change—they understand community needs, identify risks on the ground, and develop solutions that are at the same time innovative, comprehensive, and inclusive, Osting emphasized, expressing his hope that the Forum will continue to serve for many years as a central meeting point for civil society organizations across Serbia.

Prepared by: Milena Maglovski

The story was published in Energy portal Magazine RESPONSIBLE BUSINNES

What’s New in the ESG Landscape of the European Union

10.01.2026

artem-beliaikin-BpQ-ClsKeXg-unsplash — Photo-illustration: Unsplash (artem beliaikin)

In recent months, several decisions have been published that are reshaping the European approach to sustainability across various sectors, while some previously adopted measures will begin to apply in the new year. It appears that the European Union is simultaneously accelerating investments in new technologies, introducing controls on environmental marketing claims, adjusting regulatory frameworks to the economy, and continuing discussions on long-term climate objectives.

Unproven Carbon-Neutral Flights Under Scrutiny

The European Consumer Organization (BEUC) has been challenging airline claims that flights can be sustainable. Following a 2023 complaint submitted to the European Commission and the Consumer Protection Cooperation Network (CPC), BEUC documented that messaging around carbon-neutral flights and the possibility of offsetting emissions through contributions for tree planting or alternative fuel development is, in effect, misleading to consumers.

In cooperation with its 23 national member consumer organizations, BEUC presented evidence that such claims violate EU rules on unfair commercial practices, as offsets do not actually eliminate emissions and sustainable aviation fuels account for only a symbolic share of overall fuel consumption. Their reports showed that greenwashing remained widespread, prompting an investigation and months-long dialogue with airlines.

The most recent outcome of this dialogue was published in a European Commission statement on 6 November 2025. According to the announcement, 21 European airlines have agreed to revise how they use environmental claims in their marketing.

Agreed Changes for Airlines As outlined in the Commission’s communication, airlines must make clear that the CO2 emissions of a given flight cannot be neutralized, directly reduced, or compensated simply through passengers’ financial contributions to, for example, climate projects. This does not dispute the potential positive effects of such projects, but rather the notion that a single flight can thereby become emission-free or climate neutral, as emissions still occur.

Airlines will thus need to avoid vague green expressions—such as “eco-friendly travel”—or any wording that suggests a flight is significantly less harmful to the climate without adequate explanation and proof.

The use of the term sustainable aviation fuels (SAF) will be allowed, but must be accompanied by proper clarification and evidence. When referring to future goals, such as achieving net-zero emissions, airlines will be expected to specify timeframes and, for example, the scope of emissions targeted.

Furthermore, all CO2 calculations presented to passengers must be displayed clearly and transparently, ensuring that travelers understand what stands behind the figures shown for their flights. Ultimately, the burden of proof shifts to the companies, which must substantiate their environmental claims before presenting them publicly.

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Combating Misleading Green Claims

Another measure relevant to consumers is Directive (EU) 2024/825, published in 2024 and set to become mandatory across all EU Member States in September 2026. Through this directive, the European Union amends two existing regulations—Directive 2005/29/EC on unfair commercial practices and Directive 2011/83/EU on consumer rights—to ensure that consumers can make truly sustainable and well-informed decisions.

Directive (EU) 2024/825 introduces additional rules to counter misleading green claims and marketing practices that mislead consumers into making incorrect choices. Practices such as intentionally shortening a product’s lifespan to encourage more frequent purchases, using vague or inaccurate environmental assertions (greenwashing), providing false information about corporate social responsibility, or relying on unverified and unreliable sustainability labels are largely not accidental.

Advertising benefits that sound positive but are irrelevant to the product itself—and therefore capable of misleading consumers—will be prohibited. The examples cited in the directive clearly illustrate this: stating that a particular brand of bottled water is gluten-free, or that paper sheets contain no plastic, may be technically accurate, but such messages offer no real value to consumers. Instead, they create a false impression of distinction, even though the characteristics in question are common to all products of that type.

Strict rules are also being set for sustainability labels. Only labels issued by publicly available, credible certification schemes or by a public authority will be allowed. Each eco-label must have clear criteria, transparency, and independent verification of compliance to eliminate arbitrary, self-created eco-tags.

One common and particularly misleading practice addressed by the directive is presenting an entire product or company as environmentally responsible when, in reality, only a small portion of it is sustainable. The directive provides explicit examples: a product advertised as made from recycled materials when only the packaging is recycled, or a retailer that implies exclusive use of renewable energy while some of its facilities still operate on fossil fuels. Such practices will be considered deceptive in pursuit of a broader goal: preventing unsubstantiated green marketing.

Regulatory Easing

Contrary to the common perception that the European Union continuously introduces new regulatory obligations, the Omnibus I package represents a phase of correction and adjustment to current economic conditions. Over the past years, companies, investors, and the public have warned that the scope of specific ESG regulations creates high costs and difficulties, particularly for small and medium-sized enterprises. In response, the European Parliament endorsed several proposals to adjust the scope of certain rules to ease the regulatory burden on smaller economic actors.

In legislative terms, the essence of Omnibus I is to consolidate, within a single legislative package, amendments to the CSRD (Corporate Sustainability Reporting Directive), adjustments to the CSDDD (Corporate Sustainability Due Diligence Directive), and technical modifications to the CBAM (Carbon Border Adjustment Mechanism).

A particularly important part of the package concerns CBAM. One of the key updates is the introduction of a new exemption threshold of 50 tons per year for goods subject to CBAM. This means that companies importing less than this amount will be fully exempt from reporting obligations and from purchasing CBAM certificates. According to estimates by the European Commission, this amendment will relieve as many as 182,000 importers—primarily small and medium-sized enterprises and individual businesses—while still covering more than 99 percent of the emissions that CBAM is intended to regulate.

Prepared by: Milica Vučković

The story was published in Energy portal Magazine RESPONSIBLE BUSINNES

The Green Transition Cannot Be Put on Hold – Erste Bank Launches a Pioneering ESG Model in Serbia

04.01.2026

PWC nagrada_ESG lideri 2025 — Photo: Erste Bank

At a moment when the world is once again shifting its focus from sustainability to rapid profit, Erste Bank in Serbia is doing the opposite precisely: we remain the most significant financial actor in investments in renewable energy sources while simultaneously introducing a new model of active ESG mentorship for Serbian companies—using our internal resources, without engaging external consultants.

While the global landscape in recent months has increasingly downplayed the importance of ESG standards and attempted to redirect attention solely to profit and short-term goals—often neglecting long-term ones—at Erste Bank, we choose a different path. We believe that capital holds its most significant value when it improves reality—when it drives us toward a sustainable future. We do not wait for these changes to happen on their own—we initiate them.

Our sustainable finance strategy is rooted in the belief that the financial sector plays a key role in accelerating the transition to a low-carbon economy. As part of the Erste Group, we are fully aligned with European targets and decarbonization standards, but what we are doing in the domestic market goes beyond the traditional banking approach of simply providing financial resources.

This means we do not observe change from the sidelines—we actively build partnerships with our clients, especially with small and medium-sized enterprises, which bear the greatest burden of shifting to sustainable operations. Recognizing their need for concrete support, we launched a pioneering advisory decarbonization process conducted entirely with our internal expertise.

To begin, we selected 13 clients from various industries across Serbia, held a joint meeting, developed an ESG questionnaire, and conducted a comprehensive analysis for each client. Based on this work, we created personalized ESG roadmaps with clearly defined goals and guidelines, which we will further refine in the coming months through on-site visits. Monitoring of results is planned for 2026.

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This approach is intensive, demanding, and fundamentally developmental for us. Still, it strengthens our internal knowledge and raises the standards of the banking sector—not only in Serbia but across the region.

Our engagement, however, does not end there. In cooperation with the UN Global Compact in Serbia, the Serbian Chamber of Commerce, and other participants from various sectors, we took part in a series of autumn educational events in Negotin and Novi Sad. By the end of the year, another session will be held in Čačak, and at the beginning of next year, we plan to visit Valjevo and Šabac. At these workshops, we brought together small and medium-sized enterprises to discuss ESG principles and sustainable business practices—why they matter for them, and the role banks play in the green transition through sustainable finance and educational guidance. By emphasizing the importance of these topics and the benefits of implementing such principles, we demonstrated that the transition cannot be carried out individually—it requires cooperation among all stakeholders, shared learning, and synergy.

As the world faces increasingly frequent climate extremes and their already measurable economic consequences—from pressure on food prices to jeopardized electricity production—it is clear that the green transition is not a trend but a necessity. Any further delay will come at a much higher cost.

In Europe, it is already estimated that extreme weather events will result in at least EUR 43 billion in direct losses this year. Serbia, given its economic structure and energy challenges, cannot afford to fall behind, especially as it ranks first in Europe among countries most affected by the consequences of climate change.

This is why Erste Bank is leading the transition—not only with capital, but with knowledge, people, dialogue, and hands-on work with clients. This is banking that creates value through action and transformation, not by observing from the sidelines.

The path we have chosen is more demanding—but it is the only one that makes sense at this moment.

*Katarina Majić, Senior ESG Specialist, Erste Bank Serbia

*Sanja Prvulović, Medior ESG Specialist, Erste Bank Serbia

Erste Bank

The story was published in Energy portal Magazine RESPONSIBLE BUSINESS

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Unproven Carbon-Neutral Flights Under Scrutiny

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Combating Misleading Green Claims

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