BALKAN SOLAR SUMMIT IN FEBRUARY IN BANJA LUKA

23.01.2024

Photo-illustration: Pixabay (Michael_Pointner)

The Balkan Solar Summit will take place from February 7 to 9 in Banja Luka, in Banski Dvor. This top event is a unique opportunity to meet, network and exchange ideas with leading experts, investors, decision makers and representatives of the business community from across the region.

The Balkan Solar Summit is a hub for everyone who is engaged in the renewable energy sources sector. The summit will discuss the latest trends and innovations in solar and wind energy, energy storage, as well as other key aspects of energy transition and sustainability.

The Summit programme includes a series of panel discussions, presentations and workshops, with a focus on innovative approaches, strategies and technologies that are key to the transition to a sustainable energy future. The highlighted topics include the role of solar energy in achieving carbon neutrality, the financing of solar and wind energy projects and the development and implementation of battery systems for energy storage.

Participating in the Balkan Solar Summit gives you the opportunity to keep up with the latest trends, learn about innovative solutions and strategies and build valuable business contacts. This is an ideal opportunity to directly influence your business growth and development in the dynamic renewable energy sector.

Don’t miss the opportunity to be a part of this extraordinary event! For more information about the event, click here and reserve your place by paying a registration fee.

Source: Balkan Solar Summit

SEF 2024: REGIONAL ENERGY BOOM IN SARAJEVO, 30th AND 31st JANUARY

22.01.2024

Sarajevo Energy Forum (SEF) has become a recognizable brand and a renowned sustainable energy forum with regional stakeholders in the energy sector, from government and educational institutions to experts who are knowledgeable of trends and can offer ideas on how to improve businesses and systems in the service of the development of Bosnia and Herzegovina and the region.

This year’s SEF will be held on January 30th and 31st at the Hills Hotel in Ilidža. Distinguished panelists will speak at the conference about the opportunities that sustainable energy can create for the economy in Bosnia and Herzegovina and the region.

One of the important topics that will be discussed will be the unhindered export of goods to the EU, considering that from January 1st, 2026, companies will have to pay expensive taxes on CO₂ emissions. This poses a big challenge as there is a possibility that many businesses will no longer be sustainable. Hence, the public and private sectors must react in a timely manner and be prepared.

SEF 2024 will offer answers to questions such as what are the lines of support and subsidies, the best ways to finance projects and how to prepare and secure your certificates of origin and green certificates in the easiest way. The Forum will also discuss the most important issue for the development of RES, which is ensuring stable grids for all those who are waiting to be connected to a power grid, as well as a presentation on research on the flexibility of power grids and measures to increase their capacity.

On behalf of the German government, GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit) supports the decarbonization of the electric power sector in the Western Balkans and in this regard also supports the second panel discussion on the development of smart power grids and electricity metres for the distribution and transmission of electricity in Bosnia and Herzegovina and the region to jointly work on creating an energetically strong region.

A special panel will be dedicated to responsible companies and how to build and improve their own energy business, how to ensure safe export of goods and how to connect with the best companies in Bosnia and Herzegovina and the region.

RIMAC ENERGY is a partner and gold sponsor of the Sarajevo Energy Forum 2024. This is a global company that has changed the perception of electric vehicles and is known for its continuous innovations. The company will take part in the SEF with its valuable contribution and knowledge of global trends in energy storage and battery production for large power systems, businesses and citizens.

Apart from global and regional companies, leading companies from Bosnia and Herzegovina will also take part such as HIFA-OIL, the general sponsor of SEF 2024. It will be interesting to hear their experiences about how virtual power plants help the development of renewable sources projects, how they ensure stable and secure purchase contracts, how they managed to complete the construction of the largest private photovoltaic power plant (of over 4,000MWh output) in the country and what are their plans for the future.

Also, companies that offer products or provide services related to this segment can participate in the Exhibitors’ Fair, which will last for two days of the Sarajevo Energy Forum SEF 2024.

The number of places for participation is limited and registrations are open for a few more days. For more information and reservation/application for participation in this prestigious forum, please click here.

SEF 2024 partners and sponsors are RIMAC ENERGY, HIFA-OIL, PV Smart Click, Solar Steelconstruction, Procredit Bank, Euro-Solar and many other renowned companies and institutions, which gives the Forum added value. The Sarajevo Energy Forum is a must-see event for energy companies.

Source: SEF Sarajevo

FROM JAMAICA TO THE SAHARA: THE STRUGGLE FOR WATER RESOURCES

22.01.2024

waves--talasi-more-voda — Photo illustration: Pixabay

Faced with the challenges of climate change and frequent droughts, people around the world are finding innovative ways to manage water resources. One such example comes from a rural settlement in Jamaica, where local residents use large rainwater collection tanks, connected by pipes to their roofs. This water is then used to irrigate agricultural crops, using a drip irrigation system. Jamaica’s example is just one of many global efforts to combat the looming water crisis.

Water scarcity is becoming an increasingly serious worldwide problem. It has been estimated that by 2025, about two-thirds of the world’s population could experience a lack of water, including regions in South and Central Asia, and North Africa, as well as in more developed countries such as the United States, which are the most affected, according to UNEP.

In South and Central Asia, water scarcity is a consequence of droughts, intensive agricultural activity and population that puts significant pressure on water resources. While there are periods of abundant rainfall in sub-Saharan Africa, infrastructure problems and limited access to clean water are still a major challenge and in many parts, wells need to be dug. This situation shows how even in areas with natural water resources, poor infrastructure and management cause problems, with population growth also contributing to this.

Communities around the world are turning to unconventional water sources. Methods such as mist collection, using treated wastewater and desalination – the process of removing salt from seawater to produce drinking water – are becoming increasingly popular. Countries such as the Bahamas, the Maldives and Malta already meet their water needs exclusively through desalination, as explained on the UNEP website.

However, such unconventional water sources come with certain challenges. Desalination requires significant investments in infrastructure and can have negative environmental consequences. Also, the use of wastewater requires precise technologies and policies to ensure safety and avoid potential infections.

In addition to finding new sources, more efficient management of existing water resources is also important.

As we wrote before, the World Resources Institute points out that a quarter of the world is population faces an extremely high level of water scarcity every year, despite using almost all available resources. The most vulnerable countries are those facing extreme levels of resource stress, meaning they are already using at least 80 percent of their water resources. These include Bahrain, Cyprus, Kuwait, Lebanon, Oman, Qatar, the United Arab Emirates, Saudi Arabia, Israel, Egypt, Libya and others.

The population is growing, temperatures are getting higher and water supplies are dwindling, due to global warming and droughts. Since 1960, the water demand has more than doubled. In addition to population growth and climate change, economic growth is also boosting, thus increasing the industry and agriculture’s need for water.

Water resource management is becoming a key global challenge. Coordinated global and local solutions, innovations in technology and sustainable practices are needed to ensure the availability of water for future generations. Without these efforts, water problems will continue to worsen, which could have serious consequences for millions of people around the world.

Energy Portal

North macedonia: floating solar power plants in the national irrigation grid

22.01.2024

Photo-illustration: Unsplash (Jordan McQueen)

The Minister of Agriculture, Forestry and Water Management of North Macedonia, Ljupčo Nikolovski, the Ambassador of the Kingdom of Spain, H.E. Jose Luis Lozano Garcia and representatives of the consulting company Globatek signed a contract stipulating the implementation of a large-scale project related to irrigation of agricultural land.

Previously, on January 9, 2024, the Government of North Macedonia adopted the decree proposed by the Ministry for the provision of grant funds for drafting a technical study for the integration of floating photovoltaic plants into the national irrigation grid. The signing of the aforementioned agreement followed the decree’s adoption on January 9.

Minister Nikolovski says that the grant comes from the financial support available under the auspices of the European plan for recovery, transformation and resilience, which is supported by the Ministry of Industry, Trade and Tourism of Spain, in the amount of 765,158.00 euros.

As stated on the Ministry’s website, the implementation of the planned activities is divided into several phases. The first phase envisages finding locations for the installation of floating photovoltaic plants. The second phase includes drafting a project and feasibility study, while the third phase envisages the development of project proposals for the installation of floating photovoltaic plants.

The Minister pointed out that this type of technology, along with the installation of floating photovoltaic devices, is already being used in several European countries, such as Spain and Belgium. Floating solar power plants are mainly used in the irrigation sector and managed by companies. This allows the agricultural sector to be more self-sufficient and sustainable.

He added that thanks to this project, the Ministry continued to invest in the development and modernization of the national agricultural irrigation system, thus directly helping each farmer.

Investing in water supply facilities is one of the key priorities in the Ministry’s work, with new dams and irrigation systems being built with both state and EU funds.

Energy Portal

Circular economy – think locally, act globally

21.01.2024

pexels-sarah-chai-7262469 — Photo-illustration: Pexels (Sarah Chai)

Global warming, environmental devastation and ecosystem pollution have contributed to actualizing the circularity concept. The circular economy (CE) seeks to replace the conventional linear model, as it assumes the reuse of waste as an input in the following production process.

In this regard, it is based on two principles: efficient management of resources and waste reduction.

In other words, CE encourages a more rational use of limited natural resources. It also results in lower pollution costs by reducing waste from production and consumption. The wide application of the circular economy in various segments of the economy contributes to accomplishing sustainable development goals.

Several prerequisites need to be met to implement CE effectively. To begin with, it is important to define the legal framework and institutional support. Second, innovations are significant for achieving circularity. Namely, this connection is like a two-way street because the further application of this principle promotes innovations and boosts micro and macro competitiveness. Third, there has to be communication and cooperation between companies, consumers and other stakeholders in all stages of the product life cycle. Finally, educating the population is an indispensable link in awakening environmental awareness and expanding ecological perspectives.

IN FOCUS:

Circular economy and eco-products

One of the main features of the circular economy is the creation of green (eco) products. Consequently, eco-products have a minimal environmental impact in all phases of the product’s life cycle. Also, green products must be clearly labelled and declared to identify and inform customers more easily. In general, eco-products differ from classic products in terms of their properties and added value for the consumers. The circular economy has various economic effects: it contributes to the development of new markets and distribution channels, and it facilitates the emergence of new business models and higher employment. In practice, recycling is often transformed through the circular economy process. However, recycling is only one of the segments of a much broader notion of this concept.

Many global economies, including the European Union, have accomplished significant results in circularity. On the other hand, Serbia is in the initial stages of development. In this regard, concrete steps and developments have been made in previous years. Last year, the Circular Economy Action Plan was written, stipulating nationwide activities and measures until 2024. Implementing this Action Plan is a kind of support for the green transition in the Republic of Serbia, as well as the accomplishment of the Green Agenda goals in the Western Balkans. In parallel with the Plan and cooperation with the Global Environment Facility (GEF), the United Nations Development Program (UNDP) and the Serbian Ministry of Environmental Protection selected nine projects following a public call to submit innovations in the circular economy. The common feature of the selected projects is the reduction of greenhouse gases, waste generation and disposal costs, and less environmental degradation. In addition to environmental aspects, some of the projects also have a social component, thus proving the initial premise of sustainability.

The transition from a linear to a circular model presupposes clearly defining its implementers. With that in mind, the main implementers in Serbia are, in most cases, corporations and large production systems, as well as small entrepreneurs whose importance is not negligible. Namely, despite local influence and small market share, small producers and new brands of eco-products not only have a lower ecological footprint and degrade the environment less but also contribute to more efficient waste management and rational use of resources, as the basic premises of CE.

Read the story in the new issue of the Energy portal Magazine CIRCULAR ECONOMY

UNEXPLORED SEABED OF NORWAY: CHALLENGES AND OPPORTUNITIES OF SEA MINING

21.01.2024

Norveška — Foto-ilustracija: Unsplash (Kym Ellis)

Foto-ilustracija: Unsplash (Mikita Karasiou)

Seabed mining is the process of extracting minerals from the deep sea. Hundreds, even over 1,000 metres below the surface of the water, there is cobalt, nickel, zinc, copper, lead, lithium and other minerals hidden in various sources.

Everyday people use appliances, laptops, phones, electric scooters, and in some countries even electric cars, however, all of these require the use of certain minerals. On the other hand, the deep sea hides the mostly unexplored marine life, species and their habitats.

For this very reason, Norway is facing a dilemma – to choose economy over ecology or vice versa. On the one hand, the political structures have already decided that Norway will be one of the first countries to engage in seabed mining, while on the other hand, researchers, scientists and environmental advocates think that these processes can destroy ecosystems which importance we cannot even comprehend as the ocean is still a very untested concept. There are concerns about environmental impacts, such as habitat destruction, sediment disturbance and water pollution.

NORWAY HAS KEY OPPORTUNITIES TO ADVANCE ITS TRANSITION AND HELP LEAD THE WORLD ON CLEAN ENERGY TECHNOLOGIES

The good side is that Norway has the experience, technology and working conditions, unlike some countries that export ore. Certainly, Norway is no stranger to industry, the sea and mining, given that the country has been active in this field since the discovery of crude oil, the WWF says. However, the flora and fauna at these depths are still a mystery to everyone. Because of this, several petitions have been launched and appeals forwarded to the European Parliament, but it seems that the government, without the Norwegian Parliament opposing, still has the last say.

Norway is known for implementing many environmental standards – electric cars are everywhere, petrol and diesel cars will soon be banned, while wind generators and solar panels generate renewable energy that does not produce harmful emissions. However, in order for these technologies exist and for Norway to be sustainable, clean and unpolluted, it has to use minerals which require mining. The question is how and at what cost?

Energy Portal

LUXEN SOLAR – A RELIABLE PARTNER FOR THE SOLAR FUTURE

20.01.2024

Solar cell technology is definitely one of the most important segments in the transition to clean energy. The great potential of this segment provides room for constant improvement of the solar panel production process. Manufacturers are aware of the fact that a reliable, top-quality product is the best advertisement; they pay special attention to these business segments. Company Luxen Solar, based in Vienna, the quality of work carried out by the Luxen Solar Company is verified because it is one of the most influential brands in the solar industry. They launched their operations in Spain in 2005, and today they have over 15 industry awards, employ more than 500 people worldwide and are one of the most innovative companies, as well as one of the TOP 20 exporters.

During almost two decades of operations, Luxen’s research and development sector has been closely following the trends in the solar panel industry, which is why many have recognized them as a safe and reliable partner. So far, they have delivered over six gigawatts (GW) of panels and are developing fully automated production – robots – which will be controlled by artificial intelligence. The capacity of this plant will have been 10GW by 2026.

Recognition of quality

The company’s portfolio includes a wide range of products for both rooftops and ground projects. Following global trends in the industry and using the latest technology, their TOPCon N-series fulfils the highest quality standard in the design and functionality of solar panels. The Tier 1 status awarded by BloombergNEF testifies to the quality of the company’s products.

IN FOCUS:

The TOPCon N-Series is manufactured in a state-of-the-art digitized Industry 4.0 facility with brand-new robotic equipment driven by artificial intelligence. The product line includes the N6 Series with 210mm technology and the N5 Series with 182mm technology, which are adapted to the different requirements of rooftop and ground projects.

Some of the key advantages of the N-series, compared to conventional modules, are almost 2.5 per cent more electricity production after 30 years, up to eight years longer warranty and 85 per cent bifaciality, which is 15 per cent more compared to the market standard. The solar panels of this series generate two hours more electricity a day, that is, 720 hours a year and 21,900 hours more over 30 years, with a significantly lower temperature Pmax of -0.29%°C.

Advantages of using new technology

The benefits of the N-series of solar panels are reflected in the reduction of the ‘levelized cost of electricity’ (LCOE). This was achieved by boosting the efficiency of the cells up to 28.7 per cent and the smaller module area. At the same time, production was increased. Still, degradation was also significantly reduced – only one per cent in the first year compared to 2-2.5 per cent when it comes to the use of conventional technology. There is also a longer lifetime under warranty and continuous high-power output in low-light conditions. The N-series TOPCon occupies a leading position when it comes to having numerous advantages over today’s standard technology.

It has resulted in Luxen Solar offering clients a product of exceptional quality and performance that results in a faster return on investment and ensures optimal use of space, long-term reliability, energy independence and a competitive edge in the market. These solar panels effectively help produce clean energy that creates a sustainable future while reducing electricity costs.

Prepared by: Milica Radičević

Read the story in the new issue of the Energy portal Magazine CIRCULAR ECONOMY.

AN INTERNATIONAL LEGALLY BINDING INSTRUMENT ON PLASTIC POLLUTION TO BE CREATED BY THE END OF 2024

20.01.2024

plastika — Photo-illustration: Pixabay (VIVIANE6276)

Photo-illustration: Unsplash (Maria Mendiola)

Although the plastic industry is worth about 700 billion dollars a year, provides millions of jobs and generates other social benefits, we have to look at the bigger picture, i.e. how plastic is used and disposed of because it harms the environment, people, but also the economy and the companies themselves.

As stated on the website of the World Economic Forum, this comprehensive view has led to countries agreeing to create an international legally binding instrument on plastic pollution by the end of 2024.

Negotiations on this Instrument have been going on for almost two years now and the last two rounds of negotiations this year will be crucial, as will the proactive engagement of all stakeholders – including the private sector – who must help the negotiators to send out the right signals so that the business sector can end plastic pollution.

There are several key points that the Instrument must achieve. Firstly, unnecessary, problematic and avoidable plastic products must be eliminated. These are mainly single- or multiple-used items.

Secondly, products have to be redesigned, including their packaging, which implies using less plastic, with such products becoming easier to reuse, replenish, repair and recycle. As an example, the transition from liquid soaps, shampoos and detergents to solid substances delivered in non-plastic packaging was offered.

Thirdly, it is necessary to implement innovations to switch to other materials, alternative plastics and plastic products that do not have a negative impact on the environment, health and society. This includes eliminating microplastics and chemicals harmful to human health.

Fourthly, it is crucial to invest in better systems to reduce, reuse, replenish, repair, recycle and manage and dispose of waste in an environmentally sound manner. This will encourage manufacturers to design reusable products and ensure that resources become circular. However, all this must happen while enabling a just transition and decent jobs for the communities.

Estimates show that if such an agreement were to be reached, most plastic pollution could be ended by 2040, including the one in the marine environment, while simultaneously unlocking social and economic opportunities. What’s more, research by the United Nations Environment Program (UNEP) and other organizations has shown that hundreds of thousands of new and fairly distributed jobs could be created, as well as billions of dollars generated in savings in public and private funds if the negative effects of plastic on health, climate change, air pollution and ecosystem degradation are eliminated.

In order to achieve all this, the Instrument has to resolve some other important issues. A level playing field must be created for all and regulatory approaches harmonized at the international level. Also, countries that consume large amounts of plastic should take greater responsibility and provide support to those economies that depend on plastic production. These are just some of the actions that must be coordinated among the countries that support the creation of this Instrument.

Energy Portal

EU4Energy 2024 Work Programme to advance energy governance in Partner Countries

19.01.2024

eko — Photo-illustration: Freepik (freepik)

Photo-illustration: Freepik (rawpixel.com)

The EU4Energy initiative is pleased to announce its January to December 2024 Work Programme, focused towards defining and implementing the EU4Energy Governance project activities. The initiative’s approach is grounded in addressing the requests and needs of each Partner Country, with a comprehensive plan to advance energy sector development and sustainability.

The Work Programme for 2024 identifies key priority areas that will serve as the foundation for EU4Energy’s activities throughout the year:

Ongoing support for renewable energy, gas market, and energy efficiency

Continuing its commitment to sustainable energy solutions, EU4Energy will provide continuous support to Georgia, Moldova, and Ukraine in vital areas such as renewable energy, gas market development, and energy efficiency. These initiatives are crucial for reducing carbon footprints and fostering environmentally responsible energy practices.

Capacity building for stakeholders

Recognizing the importance of building local expertise and capabilities, EU4Energy will focus on capacity building for ministries, regulators, transmission system operators (TSOs), and other stakeholders in Georgia, Moldova, and Ukraine. Enhanced knowledge and skills will drive long-term energy sector growth.

Implementation of the Electricity Integration Package

The programme will actively support the implementation of the Electricity Integration Package, emphasizing the importance of addressing the post-synchronisation process in Moldova and Ukraine. Integration into regional electricity networks enhances energy security and resilience.

Tailored support for Partner Countries

In addition to the common priorities, EU4Energy’s 2024 Work Programme tailors its support to specific needs in each Partner Country:

Georgia: The focus will be on supporting the Georgian State Electrosystem (GSE) and the Georgian National Energy and Water Regulatory Commission (GNERC) in drafting the Residual Mix Calculation Methodology and disclosure rules of Guarantees of Origin.

Moldova: Special attention will be given to the implementation of Law 10/2016, which promotes the use of energy from renewable sources. EU4Energy will particularly concentrate on the development of relevant secondary legal acts to facilitate the transition to sustainable energy.

Ukraine: The initiative will maintain a spotlight on Ukraine Support Activities, specifically supporting the management of the Energy Community Secretariat’s established Fiduciary account for the Ukraine Energy Support Fund.

Funded by the European Union, the EU4Energy initiative is a collaborative effort between the Energy Community Secretariat, the Council of European Energy Regulators, and the International Energy Agency. The project’s overarching goal is to help Moldova create an investment-friendly environment for a cost-effective energy transition, aligning with the 2030 energy and climate targets outlined in the 2022 Ministerial Council decision.

Source: Energy Community

Cigarette butts – from waste to asphalt mixture

18.01.2024

The health hazard that cigarette consumption causes for both active and passive smokers is a problem that most people are familiar with. In the EU countries, cigarette packets feature disturbing photos and inscriptions of diseases that can develop from smoking. However, this problem affects not only people but also nature, something that is not talked about enough. Relevant data show that more than 15 billion cigarettes are smoked globally per day. The problem becomes even bigger when we take into account the results of a survey that showed that over 70 percent of smokers throw cigarette butts into nature.

The negative impact that this waste has is not only evident at the place where the cigarette butt is discarded. When it rains, the rainwater that soaks cigarettes causes the release of more than 6,000 toxic and carcinogenic substances into the ground which then travel deeper into the soil and groundwater. Moreover, just one cigarette can contaminate up to five litres of water. As everything in nature is connected by a continuous cycle, these very harmful substances that end up in the soil also reach the plants that take nutrients from such polluted soil. If someone does not care about nature, but about the health of the people, this is a good explanation of how everything returns to humanity like a boomerang. If we eat food produced from these polluted plants, we are re-engesting harmful substances into our bodies again.

Other research highlights another problem when it comes to plants, which is that cigarette butts affect their growth. The following experiment was conducted – plant seeds were planted in two pots and a cigarette was placed in one of them. The result showed that 30 percent fewer plants (quantity) grew in the pot with the cigarette butt and that those plants that managed to grow were also 30 percent smaller (in size) compared to those that grew in the healthy pot.

In order to solve the pollution that cigarette butts cause, the EcoButt Company from Slovakia devised a way to recycle cigarette butts. The end result is a top-quality product which is used in the production of asphalt mixtures. Everything starts with good infrastructure, that is, special ashtrays that are placed in public places where smokers often smoke. The second step is the collection itself, which, given that cigarette butts are not considered municipal waste, requires a special organization. This kind of collection is done once or twice a month.

How to turn cigarette butts into asphalt?

Photo-illustration: Unsplash (Juan Cardenas)

The company published an interesting piece of information on its official website – out of 500 people, a third thought that the cigarette filter was made of paper, while another third said that it was made of cotton. However, what is actually hidden inside a cigarette is plastic, i.e. the so-called acetyl cellulose, which takes about 15 years to decompose. It is this property that is used in the production of asphalt. Acetyl cellulose granulate is produced by the processing of cigarette butts, which replaces the usual cellulose granulate needed in the process of creating an asphalt mixture.

Using this kind of recycling not only reduces cigarette waste but also saves trees. Namely, cellulose is a natural polymer that is found in plants and by its modification, the aforementioned material is obtained.

How does Serbia treat this kind of waste?

The streets in cities throughout our country are full of cigarette butts. Moreover, Serbia occupies one of the highest positions globally when it comes to the number of smokers. That is why we should fully support such solutions.

However, our country does have ideas on how to reduce cigarette waste. A few years ago, the students of the Dušan Trivunac Dragoš High School in Svrljica invented a biodegradable cigarette filter, which is made of unbleached cellulose and contains plant seeds. Also, the Naša Kuća Parent Association produces recycled paper from cigarette packs. Environmentally conscious smokers can take their cigarette packs to this association for recycling.

Katarina Vuinac

EBRD loan to support green initiatives in Bulgaria and Greece

18.01.2024

novac_pare — Foto: Money exchange photo created by freepik - www.freepik.com

Photo-illustration: Unsplash/Micheile Henderson

The European Bank for Reconstruction and Development (EBRD) is providing a 60 million euros loan to Bulgaria’s ProCredit Bank to finance investments that mitigate the impacts of climate change and promote environmental resilience.

The proceeds of the loan will be allocated for on-lending to green projects in Bulgaria and Greece, including, among others, projects on energy efficiency, renewable energy and climate resilience measures.

The loan will expand ProCredit Bank Bulgaria’s green lending activities, and will accelerate both countries’ transition towards greener, more sustainable economies.

Procredit Bank Bulgaria has been a pioneer in green financing in Bulgaria, committed to activities aimed at protecting the environment, improving energy efficiency and reducing the ecological footprint. Established in 2001 by an alliance of international development-oriented investors, ProCredit Bank Bulgaria is now solely owned by ProCredit Holding, based in Frankfurt am Main (Germany), and focuses its support on small and medium-sized enterprises (SMEs).

Melis Ekmen Tabojer, EBRD Director for European Union Banks and Structured Finance, has welcomed the partnership, saying: “We are pleased to be building on our successful track record with ProCredit Bank. Over the last few years, we have witnessed the devastating impacts of the climate crisis in Greece and Bulgaria, and we are confident that this loan, which prioritises green projects, will contribute to mitigating that impact, and accelerate the journey towards a sustainable future for both countries.”

“Our strategic partnership with the EBRD allows us to provide continuous, regular support to SMEs with appropriate financing solutions. The new loan agreement, together with our in-house expertise and experience, will help Bulgarian and Greek companies become more competitive and innovative in the context of today’s rapid-paced green transition,” said Rumyana Todorova, Member of the Management Board and Executive Director of ProCredit Bank.

The EBRD is a leading institutional investor in Bulgaria, with a cumulative investment of 4.5 billion euros in more than 290 projects in the country. The Bank’s focus in the country remains on enhancing private-sector competitiveness, strengthening the financial sector and narrowing the infrastructure gap.

Source: EBRD

Great britain’s ambitious plans for nuclear energy

17.01.2024

Photo-illustration: Unsplash (lukas-lehotsky)

The United Kingdom relies heavily on renewable wind energy and gas as well. In recent years, there has been a similar demand for gas and wind and these two sources are the country’s main energy pillars.

However, the country is actively working on its plans to modernize and expand its nuclear capacity. The Civil Nuclear Roadmap is a roadmap for the expansion of nuclear energy in the country, with the view of reducing the population’s energy bills, while making the country as safe as possible, given that the energy crisis has reminded us how important it is to have regular energy supply. This is the country’s largest energy capacity expansion in 70 years.

Key elements of this plan include exploring the construction of large nuclear power plants and investing in advanced nuclear fuel production.

In 2023, the country produced about 15 percent of its electricity from about 6.5GW of nuclear-generated capacity, however, most of the existing reactors will be decommissioned by the end of this decade, with the plan to design next-generation reactors. Plans call for up to 24GW of new capacity by 2050, which is over three times the current capacity. The idea is that a quarter of the electricity needed by then will come from nuclear reactors, according to the World Energy Association.

One of the key aspects of this plan is improving regulations in order to expedite the development of new power plants, but also the government providing financial assistance by investing hundreds of millions of British pounds in the production of uranium for fuel. The government has also launched two consultations: one on a new approach to siting future nuclear power plants and another on encouraging private investment in advanced nuclear projects, World Nuclear News adds.

The UK is one more country to decide to invest in nuclear energy and its development to meet the goals of climate neutrality, in addition to ensuring energy security.

This comprehensive plan puts the UK on track to nearly quadruple its nuclear capacity by 2050, a rather ambitious plan.

Energy Portal

Investing in innovation is a sure way to have a quality product

17.01.2024

6.6MW_Windach_Germany_installed-by-Feneco — Photo: : 6.6MW Windach Germany installed by Feneco

As one of the biggest producers of solar inverters in the world, the SolarEdge Company is known for investing in the most innovative technology, while their products undergo very demanding tests to ensure top quality. They focused their business to the greatest extent on Serbia, Slovenia, Greece, Croatia, Romania and Bulgaria, but they did not bypass the other Western Balkan countries either. The energy crisis and the drive to achieve energy independence accelerated the company’s development in 2023.

We talked with Christian Carraro, General Manager for South Europe at SolarEdge, about the photovoltaic (PV) market, inverter capacity, the company’s operations in the year marked by the energy crisis and ensuring safety under the solar roof.

What business venture in Serbia in 2023 are you most proud of and why?

We are very proud of the installations we developed together with our partners – 700KW at the Bizerba building, 1MW at the Gemax building and 1MW at the Champicomp building. Of course, our inverters are used and can be seen at many other solar power plants throughout Serbia. I must point out that we are working on several ongoing projects together with multinational corporations. These are mostly roof installations. In terms of the PV market, there is strong interest in residential buildings and even more so in commercial and industrial buildings. The PV market has been developing rapidly in the post-summer season, but not as rapidly as at the beginning of the year.

IN FOCUS:

You are recognized for your leadership potential in the inverter sector thanks to technology, research and development. How do on-grid inverters work and what are their most important advantages?

Photo: 6.6MW Windach Germany installed by Feneco

First and foremost, I need to explain the inverter’s role. A traditional inverter connects to the grid, converts DC to AC to DC and finds its maximum point at the array level on a group of modules. What does SolarEdge do differently than others? Thanks to the power optimizers, the inverter can find the MPPT at the single module level, therefore allowing the system to produce more power.

On top of that, it can provide greater safety thanks to two technologies – Sense Connect, which automatically detects and warns of abnormal temperature, and SafeDC, which automatically shuts down the system to reach safe levels, keeping maintenance teams or rescuers safe. Last but not least, thanks to the power optimizers, the performance of each individual module can be monitored. SolarEdge offers customers complete solutions.

Which facilities are best suited for SolarEdge installations and why?

All residential and commercial/ industrial roofs are suitable for SolareEdge installations. We also launched a new Agri PV sector, which is an agricultural solar solution for the generation of electricity from renewable sources with almost uninterrupted use of agricultural land. Plus, next year we will have a dedicated utility-scale solution. We have already started the production of a new 330KW inverter.

Interviewed by: Mirjana Vujadinović Tomevski

Read the story in the new issue of the Energy portal Magazine ESPONSIBLE BUSINESS.

New global fisheries management body’s first meeting focuses on sustainable practices and promoting biodiversity

16.01.2024

Photo-illustration: Unsplash (Eddie Bugajewski)

A new global fisheries management body was launched yesterday with key items on the agenda including best practices and approaches for the effective management of fisheries resources, and improvements in the Food and Agriculture Organization of the United Nations (FAO) methodology to estimate the state and health of the world’s marine fish stocks.

The fight against Illegal, Unreported and Unregulated (IUU) fishing, the promotion of adaptive responses to the climate crisis, and mainstreaming biodiversity will also be on the agenda of the COFI Sub-Committee on Fisheries Management’s 15-18 January 2024 meeting, with a specific focus on small-scale fisheries.

Over 500 million people globally depend, at least partially, on fisheries for their livelihoods – nearly half of them women when considering the whole value chain. While 65 percent of fish stocks were within biological sustainable levels, 35 percent were estimated to be at unsustainable levels – a proportion that has been increasing since the 1970s.

The COFI Sub-Committee on Fisheries Management’s main functions are to provide technical and policy guidance on fisheries management, identify global challenges and opportunities, and promote collective solutions to ensure the environmental, economic and social sustainability of a sector that is crucial for global food security and nutrition.

“Improving global fisheries management remains crucial to restore ecosystems to a healthy and productive state and to protect the long-term supply of aquatic foods,” said FAO Director-General QU Dongyu in his address to the opening of the meeting’s virtual plenary session. “This improvement also includes eliminating illegal, unreported, and unregulated fishing and on addressing the impacts of the climate crisis, and biodiversity degradation that are also heavily impacting aquatic and coastal ecosystems and dependent communities”.

Qu underscored that the Sub-Committee on Fisheries Management will play an important role in addressing these global and complex issues. It will identify and discuss major trends and issues in fisheries management that require measures and make recommendations to the Committee on Fisheries to help advance implementation of the FAO Code of Conduct for Responsible Fisheries and achieve the vision set out in FAO’s Strategic Framework 2022-31 for better production, better nutrition, a better environment and a better life, leaving no one behind.

The Director-General noted that the Sub-Committee on Fisheries Management will guide FAO’s Blue Transformation roadmap and its core objective of ensuring that global fisheries resources – including in lakes, rivers and seas – are efficiently and effectively managed.

On the agenda

During this week’s meeting, Members will share insights, experiences and effective strategies to enhance fisheries management, explicitly considering ecological, social, economic, nutritional and gender objectives. The discussion will be particularly geared towards improving practices in small-scale fisheries both inland and marine, fostering a holistic approach to sustainable management.

Members will also discuss ways to assess the magnitude and impact of illegal, unreported and unregulated (IUU) fishing. This includes reviewing monitoring, control and surveillance systems, as well as enforcement requirements, and improving compliance with international conservation and management measures.

FAO has undertaken various activities to support Members in transitioning to climate resilient fisheries management, and this issue is to feature during the session. The Sub-Committee is expected to share lessons learned towards integrating climate change into national and multilateral fisheries management and governance and recommend areas that need further development, including increasing the adaptive capacity of fisheries operations and assets.

The importance of integrating biodiversity considerations in fisheries management within the context of the Kunming-Montreal Global Biodiversity Framework of the Convention on Biological Diversity is also on the agenda.

Better statistics on the horizon

During the session, Members will review methodological updates to FAO’s State of Stocks Index (SoSI), which has been published every two years since 1971 and presented in FAO’s flagship The State of World Fisheries and Aquaculture (SOFIA) report since 1997.

FAO is the only organization mandated to collect such statistics worldwide. The proposed updates aim to enhance transparency, geographical coverage, and measurement accuracy to better reflect changes in dominant species, stocks and fisheries practices and align with reporting initiatives and requirements.

COFI, a Technical Committee of FAO,, is the only global inter-governmental forum where major international fisheries and aquaculture problems and issues are examined and recommendations addressed to governments, regional fishery bodies, NGOs, fish workers, FAO Members and the international community.

COFI already has two other sub-committees: one on aquaculture and another on the fish trade. With the creation of the Sub-Committee on Fisheries Management, there is now a third sub-committee entirely dedicated to sustainable fisheries management.

Source: FAO

China’s petrochemical surge is driving global oil demand growth

15.01.2024

Photo-illustration: Unsplash (Grant Durr)

The global petrochemical industry – essential to the production of clothing, tyres, detergents, fertilisers, and countless other everyday products – is currently going through a momentous period of transition. Driving this change is a towering wave of new petrochemical plants, most notably in China. This is shifting oil demand to the country as it increases production of plastics and synthetic fibres, while generating increasingly cutthroat competition among those that previously dominated the market.

The speed and scale of the expansion of China’s petrochemical sector dwarfs any historical precedent, roughly doubling the pace of earlier capacity additions in the Middle East and United States. Between 2019 and 2024, China is set to add as much production capacity for ethylene and propylene – the two most important petrochemical building blocks – as presently exists in Europe, Japan and Korea combined.

The structural transformation of the petrochemical industry has been reshaping global patterns of oil consumption. Global oil use in 2023 has decisively surpassed pre-Covid levels, rising to 1 million barrels per day (mb/d) above where it stood in 2019. However, this is largely being driven by petrochemical demand and is especially concentrated in China. In 2023, demand for petrochemical feedstocks such as naphtha, liquefied petroleum gas (LPG) and ethane in the country will average 1.7 mb/d more than in 2019. Were it not for the sector’s rapid growth, total oil consumption would remain comfortably short of the pre-pandemic mark.

As China’s petrochemical sector expands, demand for feedstocks derived from oil is shifting to the country from other longstanding petrochemical centres. It is also significantly affecting global markets for the products made from petrochemicals, such as plastics, synthetic fibres and their intermediates.

China has long been the world’s largest polymer and synthetic fibre importer, accounting for the equivalent of almost 3 mb/d in feedstock terms, or 3 percent of global oil consumption, in 2019 and 2020. Now, its previous suppliers are under pressure after recent increases in Chinese production, in particular during 2023. Petrochemical activity and related oil demand fell in other regions, including the Middle East and the rest of Asia. Shipments of intermediate and final petrochemical products declined by almost 30 percent from these parts of the world during the first nine months of 2023 compared with the same period in 2019.

Foto-ilustracija: Unsplash (Aranka Sinnema)

European petrochemical producers are not themselves major exporters to East Asia, but the reorganisation of trade has severely impacted the region. Operating rates appear to be unsustainably low, with many plants struggling to break even. Deliveries of naphtha, transformed into ethylene and propylene by European steam crackers, have fallen by almost 30 percent since 2021 to levels not seen since the mid-1970s.

Shipments of intermediate and finished petrochemical products to Europe from the Middle East and East Asia, excluding China, have risen slightly – but, in part due to weak local demand for plastics, Europe does not appear able to absorb the additional supply. Production across all these regions has slowed, although declines in Europe have been the largest.

In striking contrast, US producers have substantially increased exports of petrochemical feedstocks, intermediates and polymers. This includes flows to both China and Europe from the expanded American steam cracker fleet, which has been another increasingly disruptive force in global markets. Soaring domestic availability of ethane and propane, the most important US feedstocks, has outpaced increases in consumption, keeping processing margins strong and supporting rising exports. Ethane used in US plants now accounts for more than 2 percent of global oil demand, doubling over the past decade.

The advantages of this burgeoning feedstock supply have helped US producers expand their global market share. Huge volumes of US ethane and propane have poured into China since the pandemic, approaching three-quarters of the nation’s imports of these products and meeting more than one-third of the increase in China’s overall feedstock demand compared with 2019.

This trend is mirrored in US exporters’ growing dependence on China’s appetite for ethane and propane. More than three-quarters of the 2019‑23 increase in these shipments has gone to China. This symbiosis between the largest global source of demand growth – China – and the largest global source of supply growth – the United States – has enabled the petrochemical sectors in both countries to flourish in a way that would not otherwise have been possible.

Foto-ilustracija: Unsplash (Waldemar Brandt)

The magnitude of the surge in petrochemical activity risks masking major shifts in global oil markets that have already begun to take hold. These structural changes have brought a peak in global oil demand into view this decade, according to analysis in the IEA’s medium-term Oil 2023 report and the latest World Energy Outlook.

One consequence of the growing role of petrochemicals is that carbon dioxide (CO₂) emissions from oil will likely peak before overall demand. Petrochemical products are not primarily used as fuels, which means they are not a large source of direct emissions, though they can result in other environmental problems.

Despite marked growth in the world’s economy and population, global oil demand excluding petrochemical feedstocks remains lower than in 2019 and has grown little since 2017. Personal mobility and industrial activity now exceed pre-pandemic levels, but this is outweighed by strong improvements in the energy efficiency of engines, surging sales of electric vehicles and behavioural changes like more widespread teleworking.

IEA projections show that global road fuel use is set to decline from 2025. Total oil consumption by advanced economies is already nearly 10 percent below 2007 levels and shows no sign of recovering, even to its 2019 mark. Oil use is also expected to plateau before 2030 in China, long the driving force of rising global demand, with economic growth slowing and becoming less reliant on infrastructure and heavy industry.

These changes are set to bring an overall peak in global oil demand this decade despite growing demand for petrochemicals – which, while substantial, is not expected to alter the broader direction of travel.

Source: IEA

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