CWP Global & Mercuria Energy Trading JV

New Joint Venture For 2 GW Renewable Energy In Southeast Europe

CWP Global & Mercuria Energy Trading JV

According to CWP, there is immense potential for wind and solar energy in Bulgaria, Serbia, Romania and Ukraine as these are the most polluted nations in Europe. (Illustrative Photo; Photo Credit: Thinnapob Proongsak/Shutterstock.com)

  • CWP Global and Mercuria Energy Trading to launch a joint venture for renewables
  • The JV will be tasked with completing CWP Europe’s portfolio of 2 GW capacity in Bulgaria, Serbia, Romania and Ukraine
  • The portfolio comprises large-scale solar, wind and battery storage projects

Renewable energy developer CWP Global has brought on board an independent energy trader called Mercuria Energy Trading to complete the development and build out its renewable energy portfolio in Southeast Europe that adds up to over 2 GW capacity.

Specifically, Mercuria will invest in CWP Europe and support its more than 2 GW portfolio of large-scale solar, wind and battery storage projects in Bulgaria, Serbia, Romania and Ukraine.

Calling these 4 countries as Europe’s most carbon-intensive energy markets and most polluted with highest rates of premature deaths due to the pollution, CWP said they would need thousands of MWs of wind and solar energy to ensure their decarbonization. The 2 technologies come in handy for their competitive pricing compared to any other alternative energy source.

“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 CEO.

With Mercuria, CWP Europe said it will be able to optimize its renewable energy portfolio, better manage market exposure and develop structured transactions for corporate clients, as the company shared it will be able to ‘realize its €1.9 billion investment plan over the next several years’.

CWP said in Australia it has realized 760 MW renewable energy capacity, and has another 2.5 GW wind, solar and storage under development in a joint venture with Partners Group.

About The Author

Anu Bhambhani

Senior News Editor: Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.Before joining our team, Anu worked in various positions at publications of the Times Group in New Delhi. As a Principal Correspondent, she conceptualized special features and supplements for both The Times of India and The Economic Times. While Anu delved deep into solar at TaiyangNews, environment topics have been close to her heart before. As Assistant Editor, she was responsible for launching Planet Earth for The Economic Times, a special series on environment. Before joining the Times Group, Anu was a Copy Editor at the Hindustan Times.Anu holds a Masters degree in Journalism and Mass Communications from the University of Rajasthan. She also studied at the Centre for Science and Environment in New Delhi on E-Outreach: New Media Technologies for Advocacy and Strategic Communication, Social Media

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