Mercuria and CWP is partnering up in the development of 2GW renewable energy projects in Southeast Europe. The strategic investment in CWP Europe by Mercuria will accelerate the development of the existing portfolio and significantly expand the opportunity with additional developments. CWP’s project portfolio has been in active development since 2018 and consists of more than 2 GW of large-scale wind, solar, and battery storage projects across Bulgaria, Serbia, Romania, and Ukraine. Mercuria’s investment will also support CWP’s efforts to accelerate decarbonization in the four carbon-intensive countries. Mercuria, a commodity trading giant, will provide its broad expertise in energy markets as well as increased financial support, which will allow CWP Europe to realize its 1.9-billion-euro ($2.19 billion) investment plan over the next several years.
Bulgaria, Serbia, Romania, and Ukraine are Europe’s most carbon-intensive energy markets, with coal still playing a dominant position. The decarbonization of these markets is an urgent priority and will require tens of thousands of megawatts of wind and solar energy. Together, CWP and Mercuria will lead the transition from polluting fossil fuels to clean, low-cost green energy. Founded in 2004, Mercuria is one of the largest independent energy and commodity groups in the world. With more than $100 billion in turnover, Mercuria has become one of the most active players in the energy and renewables markets. Founded in 2007, CWP became the most successful developer in Southeast Europe delivering some of the largest projects and the largest onshore windfarm in Europe. The company has developed the 156-megawatt Čibuk wind farm in Serbia and the 600-megawatt Fantanele-Cogealac wind power project in Romania.