SeeNext Regional Report

Renewable Energy in Southeast Europe: 2023 Edition Report

The report is available for downloading here.


The first edition of the Renewable Energy in Southeast Report has been published by SeeNext, a business intelligence and news provider, in cooperation with several organisations from the region, including Karanović & Partners.

The report analyses renewable energy in the five EU member states in Southeast Europe – Bulgaria, Croatia, Greece, Romania, and Slovenia, showing it as the fastest-developing segment of the energy industry over the last few years. The document includes an in-depth financial analysis covering the performance of 2,567 companies in the period 2019-2021, a comprehensive overview of changes in the regulatory framework in all five countries, and information on key investments and M&A deals.

Our colleagues from Ilej & Partners in cooperation with Karanovic & Partners including Partner Ivana Sverak, Senior Associate Boris Dvoršćak, and Junior Associate Mia Đurđevac contributed to the report. They gave an overview of the regulatory update in Croatia, touching upon the current national regulatory framework for the renewable sector in the country (Energy Market Act, Renewable Energy Sources and High-Efficiency Cogeneration Act), as well as the investment incentives for renewable energy projects, in the field of solar energy, hydropower, and geothermal energy. The analysis pointed out the ever-growing interest in the renewable energy sector in Croatia, which resulted in reaching 31% of energy from renewables in the gross energy consumption in 2022, mostly from the country’s hydropower plants, with an outlook that foresees the share of renewables in the total energy consumption to grow to 65.6% in 2050.

Our colleagues, Senior Associate Vesna Ložak Polanec and Junior Associate Žiga Dernič from Ketler & Partners, a member of Karanović, contributed to the report with the analysis of the Slovenian renewable energy sector. The current national regulatory framework for renewables is regulated by the Energy Act and the Act on the Promotion of the Use of Renewable Energy Sources, as well as the several by-laws implementing in detail the provisions of the two Acts, such as the Decrees on the self-supply of electricity from renewable energy sources, etc. Through the support scheme for electricity from RES and CHP, investment aid for self-supply from RES, EcoFund, the Slovenian Environmental Public Fund, and other measures of financing, Slovenia successfully finds a way to increase its renewable capacities, while making the solarisation of the country one of the major goals in the energy sector.


The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.