The Solarina project, a significant utility-scale solar initiative in eastern Serbia, is approaching financial closure with backing from the European Bank for Reconstruction and Development (EBRD). This development is poised to establish the facility as the largest solar power plant in Serbia, which represents a pivotal advancement for the nation’s renewable energy landscape.
The financial structure proposed for this project includes a senior secured loan of up to 36.2 million euros and a guarantee facility of up to 2.52 million euros. This guarantee is designed to fulfill obligations under Serbia’s Contract for Difference (CfD) mechanism, which aims to provide long-term revenue assurance for renewable energy ventures. A conclusive decision regarding the loan is anticipated by April 29.
Situated in the Zaječar area, the Solarina project entails an investment totaling approximately 155.7 million euros. Upon its completion, it is projected to yield substantial environmental advantages, including annual carbon dioxide reductions exceeding 230,000 tons, thereby aiding Serbia’s decarbonization efforts.
The project will cover around 320 hectares and will comprise three solar generation zones, a transformer substation, and underground cable infrastructure. Additionally, it features a comprehensive grid connection that includes a 16.8-kilometer 110 kV overhead line and 1.45 kilometers of underground cables linking to the existing PV Bor 2 substation.
CWP Europe, the developer behind Solarina, specializes in renewable energy projects throughout southeastern Europe. By the end of 2025, the company expects to have 938 MW of projects either operational or under construction. Furthermore, CWP Europe maintains a development pipeline of approximately 7 GW across ten countries, underscoring its expanding influence in the regional energy transition.
