Wind power expansion in Southeast Europe gains momentum as Serbia emerges as a regional anchor

Europe’s wind energy sector has consolidated its role as one of the central pillars of the continent’s electricity system. The latest annual data from the European wind industry shows that by the end of 2025 Europe had installed wind capacity of 304 GW, including 265 GW onshore and 39 GW offshore. This scale places wind among the most structurally important generation technologies in the European energy transition.

During 2025 alone, Europe added 19.1 GW of new wind capacity, with approximately 90 % built onshore. Within the EU-27, 15.1 GW of new wind projects were installed, representing a 16 % increase compared with 2024. Wind power accounted for around 19 % of total electricity consumption across the EU, with some markets demonstrating far deeper integration of wind energy into their power systems.

Countries such as Denmark generated roughly 50 % of electricity from wind, while Lithuania and Ireland reached about 33 %, and Sweden approximately 30 %. These figures illustrate the degree to which wind energy has evolved from a marginal renewable technology into a core component of European power generation portfolios.

Germany remained the primary driver of wind capacity expansion across the continent. The country installed 5.7 GW of new capacity during 2025, maintaining its position as Europe’s largest wind market. Other leading additions came from Turkey with 2.1 GWSweden with 1.8 GWSpain with 1.6 GWFrance with 1.4 GW, and the United Kingdom with 1.3 GW.

Investment activity continued to accelerate. Financing decisions for wind projects reached €45 billion during the year, covering projects representing 20.9 GW of future installed capacity. These investment flows signal that the next phase of Europe’s wind expansion is already embedded in development pipelines.

Southeast Europe still represents a small share of Europe’s wind capacity

Despite this rapid growth across Europe, the countries of Southeast Europe remain comparatively modest contributors to the continent’s wind capacity. Historically, electricity systems in the region have relied heavily on coal-fired power plants and large hydropower facilities, leaving wind development slower than in Western and Northern Europe.

By the end of 2025 the Southeast European region had approximately 2.56 GW of installed wind capacity, representing less than 1 % of Europe’s total wind fleet. Nevertheless, recent years have begun to show a gradual but clear shift toward wind energy investment across the Western Balkans and neighboring markets.

Within the region, Croatia currently leads in installed wind capacity, followed by Serbia, while Montenegro, North Macedonia and Bosnia and Herzegovina are developing a growing pipeline of mid-scale projects. Slovenia, by contrast, remains largely absent from regional wind development.

The latest regional analysis by the renewable energy association OIE Serbia indicates that Southeast Europe is entering a more active phase of wind investment. However, the speed and scale of development differ significantly between countries.

Croatia has already built a sizeable fleet of operational wind farms. Serbia is expanding capacity through a combination of private developers and state-backed investments. Montenegro and North Macedonia are gradually entering a new phase of project development. Bosnia and Herzegovina is advancing wind projects through partnerships between domestic utilities and international investors.

Serbia builds a diverse wind portfolio

Serbia currently represents the second-largest wind market in Southeast Europe, with 13 operational wind farms totaling 824.2 MW of installed capacity.

During 2025 alone, an additional 199 MW of wind capacity was connected to the Serbian grid, representing a 24 % increase compared with 2024. This growth reflects an increasingly diversified development landscape combining international developers, local investment groups, and state participation.

The largest wind project currently operating in Serbia is Čibuk 1, with an installed capacity of 158 MW. The project was developed by Vetroelektrane Balkana d.o.o. with financing of €270 million provided by the IFC group and the European Bank for Reconstruction and Development (EBRD).

Another major project is Kovačica wind farm, with 104.5 MW of installed capacity. Developed by Electrawinds K-Wind d.o.o., the project involved an investment of approximately €189 million, financed through loans from Erste Bank and EBRD.

Additional wind capacity in Serbia includes Alibunar wind farm, operated by Elicio Ali VE d.o.o., with 42 MW of capacity and an investment of €72 million, as well as Malibunar wind farm with 8 MW.

One of the most recent large projects is Čibuk 2 wind park, with 154 MW of installed capacity. The project is backed by Masdar and Taaleri, with project financing provided by UniCredit Bank and Erste Bank, and a total investment estimated at €212 million.

Another significant development is Pupin wind park, located near the Kovačica wind farm. The project has a capacity of 94 MW and an investment value of roughly €100 million.

Serbia’s state-owned utility has also entered the wind sector. Elektroprivreda Srbije (EPS) developed Kostolac wind park, the first wind project implemented by the utility. The project has 66 MW of capacity, consisting of 20 wind turbines rated at 3.3 MW each, located on reclaimed land from former coal mining operations near Kostolac.

In eastern Serbia, the Krivača wind project represents another large investment. With 103.3 MW of installed capacityand a value of €155 million, the project was developed by MK Group together with the Slovenian investment fund Alfi.

The MK-Fintel Wind platform has also contributed several projects to Serbia’s wind fleet. These include La Piccolina wind farm with 6.6 MWKošava wind park with 68 MW and an investment of €117 million, financed through loans from Erste Bank, the Austrian Development Bank, UniCredit Bank Serbia and Zagrebačka Banka, and Kula wind farm with 9.9 MW, valued at approximately €15 million.

Additional projects include Alibunar I wind farm with 9 MW, developed through a €15.5 million investment by Rudis and Nova Ljubljanska Banka, while the smallest facility remains Devreč wind turbine, the first wind installation in Serbia with a capacity of 0.6 MW.

Croatia remains the regional wind leader

Croatia continues to hold the leading position in Southeast Europe in terms of installed wind capacity.

According to the Croatian transmission system operator, by November 2025 Croatia had 29 operational wind farms with a combined installed capacity of 1,181 MW, and an approved grid connection capacity of 1,156.85 MW. Two additional wind projects were either under construction or undergoing testing, adding 83 MW of additional capacity.

WindEurope data indicates that Croatia had 1,264 MW of wind capacity connected to the grid by the end of 2025, including 27 MW installed during that year.

Among the largest projects in Croatia are Senj wind farm with 156 MWKrš-Pađene wind farm with 142 MW, and ZD2P&3P wind complex with 125 MW, which together form key components of Croatia’s renewable energy transition.

Montenegro expands its wind portfolio with Gvozd project

Montenegro’s wind sector remains relatively small but continues to expand gradually.

The country’s first major wind project was Krnovo wind farm, commissioned in 2017 with 72 MW of installed capacity. The project was developed through a partnership between Akuo Energy and Masdar, representing Montenegro’s first commercial wind installation. The €139 million investment was financed through loans from KfW and the European Bank for Reconstruction and Development, and the facility includes 26 GE wind turbines.

The second wind project in Montenegro is Možura wind farm, with 46 MW of capacity, commissioned in 2019. Investors include Enemalta plc from Malta and Shanghai Electric Power from China, with a total investment of approximately €90 million.

Together, Krnovo and Možura currently represent 118 MW of installed wind capacity in Montenegro.

No new wind capacity was connected to the Montenegrin grid during 2025, but construction is underway on Gvozd wind park, a project with 54 MW of capacity being developed by Elektroprivreda Crne Gore (EPCG). Financing for the project includes an €82 million loan from the European Bank for Reconstruction and Development.

North Macedonia enters a new phase of wind expansion

North Macedonia’s wind sector expanded during 2025, with 30 MW of new capacity installed, bringing total wind capacity in the country to 103 MW.

The first wind project in the country was Bogdanci wind farm, commissioned in 2014 with 36.8 MW of capacity. The project represented an investment of €55.5 million and was developed by the state-owned utility Elektrani na Severna Makedonija.

A second project, Bogoslovec wind park, with 36 MW of installed capacity, entered operation in 2023. The wind farm includes eight Siemens-Gamesa turbines and was developed through cooperation between BNB Kompani and the Green for Growth Fund (GGF).

The third major development is Dren wind farm, with 44 MW of capacity, located near Demir Kapija. The project entered trial operation in late 2025 and was developed by the Turkish company Kaltun Enerji, with construction carried out by YEO Teknoloji.

Additional capacity is expected from Rosoman wind park, with 30 MW, while the most ambitious development currently underway is Štip wind complex, a project with 400 MW of capacity and an estimated investment of €500 million, being developed by Alcazar Energy Partners.

Bosnia and Herzegovina shows gradual growth

Bosnia and Herzegovina has experienced steady but moderate growth in wind energy over recent years. By the end of 2025 the country had 244 MW of installed wind capacity, although no additional capacity was commissioned during the year.

The country’s first wind farm was Mesihovina, located near Tomislavgrad, with 50.6 MW of capacity. The project was commissioned in 2018 by Elektroprivreda HZ BiH, representing an €81 million investment with 22 Siemens turbines. The utility is also planning the Poklečani wind project.

Another important project is Podveležje wind farm, developed by Elektroprivreda BiH, which includes 15 turbines with a combined capacity of 48 MW and produces approximately 120 GWh of electricity annually.

Future projects under development include Bitovnja wind farm with up to 90 MW and Vlašić wind farm with up to 50 MW.

Private developers have also entered the market. Jelovača wind farm, with 36 MW, developed by F.L. Wind, entered operation in 2019. The largest project so far is Ivovik wind farm, with 84 MW of capacity, commissioned in 2024 by Lager d.o.o. Posušje together with China National Technical Import and Export Corporation (CNTIC).

Another project currently under development is Ivan Sedlo wind farm, with 25 MW of capacity, developed by Kelag International, equipped with five Siemens Gamesa 5.0 turbines.

Slovenia remains a marginal wind market

In contrast to its regional neighbors, Slovenia has seen very limited development of wind energy.

The country’s first wind project was Dolenja Vas wind turbine, commissioned in 2012 by Alpen Adria Energie, with a capacity of 2.3 MW using a single Enercon turbine. Another small installation of 0.9 MW exists, but Slovenia’s total wind capacity remains negligible.

Wind capacity in the region could double by 2030

Forecasts indicate that wind development across Southeast Europe is likely to accelerate during the coming decade.

Across Europe, wind industry projections suggest that 151 GW of new wind capacity could be installed between 2026 and 2030, averaging approximately 30 GW per year. Within the EU-27, about 112 GW of new capacity is expected, although this remains below the EU target of 425 GW of wind capacity by 2030.

Approximately 77 % of new installations are expected to remain onshore, while the repowering of older turbines with more efficient models is likely to increase electricity generation without expanding turbine numbers significantly.

For Southeast Europe, projections suggest that regional wind capacity could exceed 5.19 GW by 2030, assuming that around 2.6 GW of currently planned projects are successfully developed. This would represent a 103 % increase compared with current installed capacity.

By 2030, forecasts indicate that Serbia could reach around 2,100 MW of installed wind capacity, followed by Croatia with approximately 1,640 MWNorth Macedonia with about 520 MWBosnia and Herzegovina with 510 MW, and Montenegro with around 310 MW. Slovenia could exceed 100 MW during the same period if additional projects proceed.

For Serbia and the wider region, the coming decade will require alignment with broader European energy transition dynamics. Faster permitting procedures, stronger transmission infrastructure, and stable investment frameworks will be necessary to support the next wave of wind development.

Croatia and Serbia already form the core of regional wind expansion. Montenegro, North Macedonia and Bosnia and Herzegovina are entering a new investment phase, while Slovenia continues to lag significantly behind both regional and European averages.

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