Energy transition requires 151 billion euros of investments - Energy Community: 10-30% from public funds, private capital crucial
The transition to green energy in the countries of Southeastern and Eastern Europe is entering its most costly phase: that of implementation.
Around 151 billion euros in investments by 2030 are estimated to be needed to implement national energy and climate plans in the nine countries of the Energy Community, including Albania.
The assessment comes from a new report by the Energy Community Secretariat, which analyses national plans and progress made so far towards the 2030 targets.
But the bulk of the transition bill is not expected to be borne by states.
According to the report, only 10 to 30% of financing is expected to come from public budgets, making the mobilization of private capital crucial for the realization of investments.
The assessment includes Albania, Bosnia and Herzegovina, Georgia, Kosovo, Moldova, Montenegro, North Macedonia, Serbia and Ukraine.
These countries have set national targets that, taken together, aim to reduce net greenhouse gas emissions by 60.9% by 2030, compared to 1990.
The Secretariat estimates that the policy framework for the energy transition has largely been established. The challenge, according to the report, is no longer just setting objectives, but translating them into concrete investments.
National plans should evolve from policy documents into what the report calls "strategic investment maps," where objectives are linked to concrete projects, their costs, and sources of financing.
The report also highlights shortcomings. Current plans do not fully exploit the potential of regional cooperation, do not sufficiently implement the “Energy Efficiency First” principle, and do not sufficiently integrate the social costs of the transition.
The pace of implementation also varies significantly from country to country. Some countries appear to be on track to meet the 2030 targets, while others need to accelerate the implementation of planned policies. However, the Secretariat cautions that the current data represent largely a starting point for the process, and it is still too early to make a definitive assessment of progress.
For countries aspiring to join the European Union, including Albania, this process is also directly related to integration into the European energy market. They are legally obliged, under the Energy Community Treaty, to implement agreed energy and climate objectives.
And in this case, the challenge for countries in the years leading up to 2030 will be finding capital and turning it into power plants, networks, energy efficiency, and new technologies.
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