European Commission opens investment call including solar in Western Balkans

The European Commission has published a call for private companies to invest in the Western Balkans. Financial backing could be made available for participating projects in areas including the development of renewable energy sources. The deadline for expressions of interest is May 21.

The European Commission has launched a call for private businesses investing in the Western Balkan nations of Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro and Serbia.

The priority areas for the call are based on the strategic priorities of the Growth Plan for the Western Balkans and the Western Balkans Investment Framework. These include the region’s green transition through investment in clean energy solutions such as renewable energy sources, energy efficiency measures and innovative energy technologies.

According to the online publication, the call has been designed to open a dialogue on concrete investment opportunities and identify ways to overcome related constraints in the region.

The commission has said it could potentially back some projects submitted to the call through available policy, technical and financial instruments. It may also facilitate contact with partner financial institutions for potential financial cooperation on eligible projects.

To be eligible, projects must cover one or more of the aforementioned Balkan countries and be carried out by a private business based in the EU, European Economic Area or the Western Balkans. Total project investment project must be at least €10 million ($11.3 million), while participants must demonstrate that they can finance at least 15% of the total cost of the project.

The first phase of the call for expressions of interest is open until May 21. The commission has said that, depending on the number and scope of submissions received, the call may be reopened for subsequent phases of submission.