A RACE TO THE TOP: WESTERN BALKANS 2024

The Western Balkans have over 23 GW of prospective utility-scale solar and wind projects, a 70% increase from the previous year. This capacity could render proposed gas-fired power plants obsolete, potentially averting 103 million tonnes of lifetime CO2 emissions and saving over €9 billion in energy costs and stranded assets. Currently, operating utility-scale solar and wind account for only 7% of the regional electricity mix (1.5 GW). Serbia leads the region in both operating (29%) and prospective (47%) capacity, though its construction rate is among the lowest. The report argues that the region should prioritize a just energy transition over gas-fired power, which is being promoted by EU, U.S., and Russian interests, to avoid carbon lock-in and import dependence.

• Prospective utility-scale solar and wind capacity in the Western Balkans has reached 23 GW as of March 2024, representing a 70% increase over the previous year. This scale is comparable to the prospective clean energy capacity of Germany.
• Despite the large pipeline, only 1.3 GW (6%) of the prospective capacity is currently under construction and likely to become operational. A significant portion of the remaining projects (13.6 GW) have been announced but have not yet begun financing or permitting.
• The deployment of prospective solar and wind projects could displace the need for proposed gas-fired power plants. This transition could avert 103 million tonnes of lifetime CO2 emissions—equivalent to 87% of the region's 2022 emissions—and save more than €9 billion in energy costs and stranded assets.
• Operating utility-scale solar and wind capacity currently makes up approximately 7% of the regional electricity mix, totaling 1.5 GW. Serbia holds the largest share of both operating (29%) and prospective (47%) capacity in the region.
• Serbia's prospective wind capacity of 7.9 GW exceeds its cost-effective wind potential of 1.8 GW by over 400%. Additionally, Serbia's construction rate for these projects is only 3%, which is lower than the European average of 5% and the global average (excluding China) of 7%.
• The region faces a 'dash to gas' driven by EU and U.S. interests, with 2.6 GW of potential gas-powered capacity additions and €3.5 billion in associated infrastructure planned. This risks creating gas import dependence and carbon lock-in, contradicting the region's 2050 carbon neutrality goals.

APA

Gamez, A., Kozybay, Z., Prasad, S., O’Malia, K., Stylionou, N., Gjorgjievski, A., Mazreku, V., Vrettos, C., & Gallop, P. (2024). A RACE TO THE TOP: WESTERN BALKANS 2024. Global Energy Monitor. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-WesternBalkans-wind-solar-report-2024_11.pdf

Chicago

Gamez, Andrew, Zhanaiym Kozybay, Shradhey Prasad, Kasandra O’Malia, Nassos Stylionou, Aleksandar Gjorgjievski, Valbona Mazreku, Chris Vrettos, and Pippa Gallop. A RACE TO THE TOP: WESTERN BALKANS 2024. Global Energy Monitor, 2024. https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-WesternBalkans-wind-solar-report-2024_11.pdf.

Wikipedia

{{cite report |last1=Gamez |first1=Andrew |last2=Kozybay |first2=Zhanaiym |last3=Prasad |first3=Shradhey |last4=O’Malia |first4=Kasandra |last5=Stylionou |first5=Nassos |last6=Gjorgjievski |first6=Aleksandar |last7=Mazreku |first7=Valbona |last8=Vrettos |first8=Chris |last9=Gallop |first9=Pippa |title=A RACE TO THE TOP: WESTERN BALKANS 2024 |publisher=Global Energy Monitor |date=July 2024 |url=https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-WesternBalkans-wind-solar-report-2024_11.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{gamez2024race, author = {Gamez, Andrew and Kozybay, Zhanaiym and Prasad, Shradhey and O’Malia, Kasandra and Stylionou, Nassos and Gjorgjievski, Aleksandar and Mazreku, Valbona and Vrettos, Chris and Gallop, Pippa}, title = {{A RACE TO THE TOP: WESTERN BALKANS 2024}}, institution = {Global Energy Monitor}, year = {2024}, month = jul, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/GEM-WesternBalkans-wind-solar-report-2024_11.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }