Eastern Europe has seen exponential growth in its solar sector in recent years, with three of the five countries which exceeded 1GW of installed solar capacity in Europe in 2023 – Bulgaria, the Czech Republic and Romania – all in the east. Driven by both the need to secure energy resilience in the face of Russia’s invasion of Ukraine and supportive government policies to encourage investment in the sector, there is now considerable interest and financing in Eastern Europe’s solar sector.
Wood Mackenzie noted that, driven by a growing power purchase agreement (PPA) market, Eastern Europe was a “far more promising” investment destination than other parts of the continent, and this has been reflected in recent investments.
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In August, the European Bank for Reconstruction and Development (EBRD) committed a €110 million loan to support the development of two solar plants, with a combined capacity of 300MW, in Romania; and in October, German engineering, procurement and construction (EPC) giant RWE began construction on a three-project, 24MW portfolio in Poland.
The region has also drawn the attention of Chinese solar manufacturer Trinasolar, which provides mounting work and storage systems to customers across Eastern Europe. Ahead of Solar Media’s Large Scale Solar Central Eastern Europe event in Poland from 26-27 November, PV Tech spoke to Trinasolar’s head of Eastern Europe, Katerina Jirku Nemec, about the growth of the Eastern European solar sector.
PV Tech: Can you describe your recent activities in Eastern Europe and how they compare to other markets?
Katerina Jirku Nemec: Our commitment to Eastern Europe has deepened significantly since 2021, aligning with the region’s fast-developing solar market. From the traditional solar markets in Western Europe, we have now expanded into Eastern Europe, establishing a dedicated team structure to support this region’s unique needs. We’ve achieved substantial market share growth by hiring local talent and actively supporting our partners. Unlike more mature Western markets, Eastern European countries rely heavily on our expertise and guidance, given the emerging status of solar here.
Trinasolar now operates across all business units in this region, including PV modules, mounting structures, utility storage and large-scale system development. With a clear focus on becoming the top solution provider in Eastern Europe within five years, we see ourselves as a trusted advisor and partner, enabling renewable growth across the region.
How have geopolitical events like the Ukraine crisis and US tariffs affected your operations?
While we can’t comment on US tariffs directly due to our European remit, the Ukraine crisis has underscored the critical role of renewables in stabilising energy markets. Solar energy has proven essential in delivering affordable, green power, helping to moderate energy prices amidst disruptions. The Ukraine crisis has driven up electricity prices across Europe, intensifying demand for renewable alternatives.
In Ukraine, there’s a marked shift towards smaller-scale solar installations that provide decentralised power solutions, particularly important for residential and commercial users when grid reliability is compromised. Additionally, Ukraine’s removal of VAT on solar panels has accelerated solar adoption, signaling growing government support. Although the renewable sector’s growth is often tied to global disruptions, these events have further validated solar’s resilience and necessity in modern energy planning.
Is Eastern Europe a promising market or potential manufacturing hub?
Eastern Europe indeed represents a promising market with untapped potential in solar energy deployment, given its early-stage market development. Solar energy, being highly competitive and increasingly cost-effective, is expected to play a key role in the region’s energy future.
As a company, Trinasolar continuously evaluates manufacturing diversification, aiming to be closer to our customers and respond dynamically to market needs. Investment decisions are complex, requiring a stable political environment, strong market demand and supportive policies.
Additionally, Eastern Europe’s contributions to the energy transition are substantial due to its ample space for solar deployment, highlighting the region’s growing significance in achieving Europe’s renewable energy goals.
What can Eastern European countries do to attract investment across the solar supply chain?
To enhance investment appeal, Eastern European countries could work towards more cohesive policies and market frameworks. The EU’s decarbonisation targets apply universally, but local market conditions vary significantly across countries. Streamlined regulatory frameworks, incentives for renewable energy projects and reduced bureaucratic hurdles would strengthen the region’s attractiveness for investment.
Clearer policies for grid connections, financial support for solar projects and government-backed incentives could drive deployment across commercial, industrial and residential sectors.
What role will Eastern Europe play in the solar industry in coming years?
Eastern Europe is set to be pivotal in the solar industry, given its cost advantages and growth potential. Solar’s affordability and accessibility make it ideal for achieving the region’s decarbonisation targets. Already, we see substantial project development across the Baltics, Balkans, Bulgaria, Romania and other areas.
By 2030, the EU aims for 750GW of solar capacity, and new mandates for rooftop solar on public buildings will further drive installations. Solar-plus-storage solutions will be critical, ensuring grid resilience and flexibility for a fully renewable electricity supply.
PV Tech publisher Solar Media will be organising the fourth edition of Large Scale Solar Central and Eastern Europe in Warsaw, Poland 26-27 November 2024. The event will focus on Eastern Europe with a packed programme of panels from industry leaders, including Katerina Jirku Nemec, responsible for the build out of solar and storage projects in Poland, Bulgaria, Romania, Hungary and the Baltics. For more information visit the event website.
