CWP is a pioneer of renewable energy in Southeast Europe (SEE), having successfully developed the largest wind farms in Serbia (the 156 MW Čibuk project) and Romania (the 600 MW Fântânele-Cogealac project). In 2018, having been primarily focused on Australia over the previous several years, we foresaw the trends and opportunities emerging in the SEE region and restarted full-scale development with the goal of delivering a large, diversified portfolio in the 2022 – 2025 period.
In 2021 CWP entered into a joint venture with Mercuria Energy Trading, one of the world’s largest independent energy traders with more than $100 billion of revenue. The purpose of the partnership is to complete CWP’s portfolio in the region, combining Mercuria’s energy trading expertise and financial strength with CWP’s in-depth renewable energy and local experience. This has enabled CWP to supercharge its already ambitious plans and enhance its offering of low-cost green energy to corporate clients.
CWP’s mission is to accelerate the energy transition in the region by increasing the share of renewables in the energy mix, thus also increasing energy independence, and lowering greenhouse gas emissions. Bulgaria, Serbia, Romania, and Ukraine are Europe’s most carbon-intensive energy markets, with coal still dominating the energy mix. These countries also have some of Europe’s most polluted air, and some of the highest rates of premature deaths caused by air pollution in the developed world. Their decarbonization is an urgent priority and will require tens of thousands of megawatts of wind and solar energy.
Drawing on the experience and innovative business models we developed and perfected in Australia, combined with our deep understanding of the local energy landscape and our longstanding presence in SEE, we are ideally positioned to lead the energy transition to subsidy-free renewables. Our commitment to community engagement – an approach which creates genuine and long-term positive relationships with all stakeholders, including landowners and local communities – allows us to achieve this by creating successful and impactful projects that bring value to all parties involved.