CWP is an innovator and leading renewable energy developer in Southeast Europe, bringing international expertise to local projects with the aim of providing energy solutions that contribute to a sustainable future. Currently, this company is developing a portfolio of wind and solar projects with a capacity of 6 GW in Serbia, Bulgaria, Romania, Montenegro, Albania, Bosnia and Herzegovina, Moldova, and Ukraine and it has already successfully developed the largest wind farms in Serbia (the 158 MW Čibuk project) and Romania (the 600 MW Fântânele-Cogealac project).
CWP is supporting Western Balkans ESG Summit as a silver sponsor, and will bring its international expertise and lessons on how to support transition to renewable energy, achieve energy independence and reduce greenhouse gas emission to this region's first major sustainability conference organised by Sustineri Partners in partnership with Porto Montenegro, Government of Montenegro, and Bloomberg Adria Network.
The work of CWP in Western Balkans has proven to be a major catalyst in the green energy movement, as significant investments in renewable energy are crucial for decarbonisation of the region that is highly dependent on coal, which makes about 70% of its electricity production.
“Attracting the investment required to decarbonise the Western Balkans will take the combined effort of a wide range of national and international actors, not least from the energy sector. Raising ESG standards across the region will not only help attract this investment but, crucially, it is the best hope we have of ensuring a just transition for the people", said Maja Turković, CWP's Senior Vice President Business Development Europe.
Maja Turković will join other experts that have led the diffusion of renewable energy in the region at panel discussion about the opportunities lying in the clean energy transition and the effect of the anticipated EU regulation with cross-border effect on the pace of the energy sector decarbonisation, which will be held at the upcoming Summit.
"An inclusive, equitable, safe, and green transition for the Western Balkans can only be achieved through deliberate and considerate action based on the kind of holistic approach that ESG good practices encourage. The Summit provides a wonderful platform for constructive dialogue with a variety of actors on how we can raise the profile of the region in terms of ESG performance”, she explained.
Much work and careful planning goes behind CWP's efforts of expanding their infrastructure in Southeast Europe, as to bridge together demands and opportunities of the region. By identifying the best sites for wind and solar projects, developing, and implementing innovative business models adapted to regional specifications and creating hybrid projects, CWP can not only respond to market demands, but also to address the issue of high cost of electricity and consequently create lasting positive economic and environmental impacts on communities throughout the region.
Cooperation and understanding of communities are at the heart of all operations of the CWP. Their team in Southeast Europe is continuously expanding and now has over 100 highly educated and motivated employees who work diligently to implement projects that have a positive impact on the environment and societies.
In addition to environmental protection, its projects also have a lasting socio-economic impact on municipalities, as a significant part of the investments is being directed to the local community by purchasing land from farmers, building roads and transmission lines, creating job opportunities, promoting sport, cultural and educational projects, and other similar initiatives.
For example, in 2022, CWP renovated sports fields as well as acquired sports equipment for local sports clubs and schools. Furthermore, it has supported local women's associations in preserving old crafts and traditions, by providing them with necessary equipment and workspace, as well as promoting their products. CWP has also collaborated with youth organisations that create changes in their environment and organised sales exhibitions for young artists.
It has also launched an eco-festival in Pančevo, the site of its 300 MW Vetrozelena wind farm, with a goal to reconnect people with nature through outdoor activities, bring together industry leaders and decision-makers to discuss more efficient and effective ways to serve communities, provide a platform for local communities to express their ideas on making their environment greener, healthier, and safer, and raise awareness of the importance of renewable energy and the benefits these projects will bring to local communities through job creation and carbon reduction.
CWP engages with local, regional, and national governments to support their sustainability goals, by educating them on how energy transition will help their societies financially, socially and in terms of public health. Furthermore, this company has also worked on spreading awareness of sustainable lifestyles and practices through lectures, workshops, and education for local communities. Environment, people, partners, communities, and governance are the pillars of their ESG framework, and to ensure their work truly lives up to their values, CWP has formed an ESG team that implements initiatives and activities that support its mission and goals.
Lastly, CWP is aware of how its operations can positively impact global efforts for sustainable development, and thus ensures that its business strategies are aligned with the United Nations' Sustainable Development Goals. Most notably, CWP’s work directly contributes to Goal 3 (Good Health and Well-being), Goal 7 (Affordable and Clean Energy) and goal 13 (Climate Action) as is addresses the issue of poor air quality across the region and offers green energy alternatives to traditional unsustainable energy sources, Goal 5 (Gender Equality), as female empowerment is a specific focus of their social investment strategy as well as Goal 9 (Industry, Innovation, and Infrastructure) and Goal 12 (Responsible Consumption and Production).
“CWP is one of the leading companies contributing to the Western Balkans' goal of achieving carbon neutrality by providing a much-needed alternative to coal through the implementation of renewable energy projects, which is why we are proud and grateful for their support of the first major regional Western Balkans ESG Summit”, said Biljana Braithwaite, CEO of Sustineri Partners, one of co-organizers of the ESG Summit.
