energy projects

Banks, balance sheets and megawatts: The capital architecture behind Serbia’s renewable energy expansion

Serbia's renewable energy sector has developed into a sophisticated financing ecosystem, where the availability of megawatts is influenced by the intricacies of capital rather than merely technological or regulatory constraints. Over the past ten years, a select group of lenders has financed a significant portion of the country’s large-scale renewable projects, transforming Serbia into one of the most attractive markets for renewable investments in Southeast Europe. The notable aspect of Serbia's renewable energy landscape is not just the installed capacity,…