Innovation in Power Transmission

The newly engineered eco-friendly circuit is reported to be the first of its kind from a South Korean manufacturer and represents one of the only three such products available globally. Instead of traditional insulating gases, the unit utilizes a C4-FN gas mixture. This fluoronitrile-based alternative offers a global warming potential approximately 98% lower than that of SF6.

To successfully implement this technology, engineers were required to perform a comprehensive redesign of critical system components. This included substantial modifications to the internal insulation system and the mechanical switching architecture to ensure reliability and performance.

Impact on the European Market

This 420-kV rated device is specifically aligned with the 400-kV transmission networks utilized by major electricity providers across the European market. As countries move to accelerate the integration of renewable energy, the demand for high-voltage infrastructure capable of transporting electricity across long distances has grown.

According to company sources, HD Hyundai Electric is currently engaged in discussions with a major British utility regarding a potential long-term supply agreement. The company anticipates securing its inaugural order for this technology by early next year.

Furthermore, the integration of this eco-friendly circuit breaker is expected to assist in minimizing the environmental footprint of modern electrical grids. By facilitating the expansion of renewable energy and supporting the development of cross-border transmission networks, the technology addresses the industry’s increasing pressure to adopt safer, more sustainable alternatives. Looking ahead, the company has announced plans to expand its portfolio by developing additional SF6-free circuit breakers rated at 300 kV and 362 kV over the next three years.

Economic Impact and Development

According to the Welsh Government, the construction phase of this offshore wind project is expected to generate approximately 2,000 jobs. Beyond the initial build, the initiative is projected to provide additional skilled employment opportunities once the facility is fully operational.

Adam Price, Cabinet Minister for Enterprise, Connectivity and Energy, said: “Major offshore wind projects such as this important scheme can be catalysts for economic growth and prosperity.”

The minister said the government would work with the company to bring high-quality jobs to Wales, which directly aligns with our mission to boost productivity.

Advancing Floating Wind Technology

Unlike conventional installations, the Llŷr site serves as a specialized testing facility. Managed by Cierco Energy, the project is designed to validate the technical capabilities required to unlock energy generation in the deeper waters of the Celtic Sea. These findings are expected to inform the development of larger-scale renewable energy deployments planned for the coming decade.

Finalizing Consents and Future Outlook

The recent granting of Section 36 consent represents the final stage of a multi-step approval process. Earlier this year, the project secured a marine licence from Natural Resources Wales and finalized seabed rights through an agreement with The Crown Estate.

Scott Harper, chief executive of Cierco Energy, said: “Securing Section 36 consent is a fantastic achievement for Llŷr and for Wales.”

With the project currently targeting first power for 2031, Pembrokeshire continues to serve as a focal point for the sector. The region’s deep-water port infrastructure remains a strategic asset as the government works to transform its broader renewable energy pipeline into active construction projects.

As part of the agreements, EDF and AFD will assist Serbia in developing the professional expertise and institutional framework required for the civilian nuclear programme. Their support will include preparing a series of relevant studies designed to evaluate the programme’s implementation, Handanovic said in a social media post.

“Our goal is to complete all the necessary studies by the middle of next year so that we can make an informed decision on the further development of the nuclear programme,” Handanovic said.

Studies, Funding and Regulatory Framework to Shape Nuclear Development

As per reports, AFD is providing Serbia with a grant worth 500,000 euro ($573,000) to strengthen the professional and organisational capabilities needed to prepare, develop and manage the first phase, as well as part of the second phase, of the civilian nuclear programme. The funding is intended to support the country’s institutional preparation as it progresses through the early stages of nuclear development.

Following the reversal of its ban on constructing nuclear power plants in November 2024, Serbia received the results last year of a preliminary technical study examining the potential use of nuclear energy. Conducted by EDF, the study concluded that nuclear energy could be integrated into Serbia’s existing transmission system over the next 15-20 years. Handanovic also said last year that Serbia requires about 30 million euro to complete the first two phases of its nuclear programme in line with International Atomic Energy Agency (IAEA) guidelines.

According to IAEA, the first two phases in the development of a country’s nuclear programme include a pre-feasibility study, preparatory works for contracting and construction of a nuclear power plant (NPP), and establishment of legal and regulatory frameworks. Following the two phases, the construction of a NPP may begin.

Serbia expects to start the construction of a NPP by 2035. In support of its long-term plans, Serbia has already signed several memorandums and cooperation agreements with South Korea, France, the United States, and Russia to exchange knowledge and experience in nuclear energy. The country also plans to cooperate with the UAE’s Emirates Nuclear Energy Company (ENEC) as part of the development process.

“Strengthening the country’s industrial capacity is an essential step to enable Italian companies to seize the opportunities of a rapidly growing nuclear market,” said Ansaldo Energia CEO Fabrizio Fabbri.

Carlo Luzzatto, CEO and General Manager of RINA, said, “Through this initiative, we aim to support companies on a structured qualification pathway, enabling them to progressively develop the capabilities and meet the requirements needed to operate in an industry defined by the highest regulatory, technological, and safety standards.”

“The Italian Nuclear Association expresses its strong appreciation and full support for this initiative, which is of fundamental importance to strengthen and coordinate a national nuclear supply chain that can already rely on expertise and industrial capabilities developed also through significant projects abroad,” said Stefano Monti, Chairman of the Italian Nuclear Association.

Italy Continues Legislative Steps Toward Nuclear Energy Return

The nuclear supply chain initiative comes as Italy continues to advance its broader plans for the possible return of nuclear energy. The country operated four nuclear power plants beginning in the early 1960s before deciding to phase out nuclear power following the referendum held after the 1986 Chernobyl accident. Its final two operating facilities, Caorso and Trino Vercellese, were closed in 1990. In late March 2011, after the Fukushima Daiichi accident, the Italian government approved a moratorium of at least one year on the construction of nuclear power plants, despite earlier efforts to revive the country’s nuclear programme. A referendum conducted in June that year saw 94% of voters reject the construction of new nuclear reactors.

Since then, public opinion has become increasingly favourable toward nuclear energy. In May 2023, the Italian Parliament approved a motion urging the government to evaluate the inclusion of nuclear power within the country’s energy mix. Later, in September 2023, the government convened the first meeting of the National Platform for Sustainable Nuclear Power to establish a timetable for the possible return of nuclear energy and identify opportunities for the country’s existing nuclear supply chain and industrial capabilities. In October 2025, Italy’s Council of Ministers, chaired by Prime Minister Giorgia Meloni, approved for final consideration a bill assigning responsibility for reintroducing nuclear energy to the government. The legislation authorises comprehensive regulation of ‘sustainable’ nuclear power in line with European decarbonisation policies by 2050 and energy security objectives, including the creation of a National Programme for Sustainable Nuclear Power, an independent Nuclear Safety Authority, stronger scientific and industrial research, the development of new skills, and public information initiatives.

Further legislative progress followed in June 2026 when Italy’s lower house of parliament, the Chamber of Deputies, approved the bill presented by Meloni’s government, moving the country closer to resuming the use of nuclear energy. The legislation will now proceed to the upper house, the Senate, for a vote. Once enacted, the implementing legislative decrees must be adopted within 12 months of the law’s entry into force.

The clean energy trade dialogue has been structured around three key areas of cooperation.

• The first focuses on specific CTIP business cases and flagship projects aimed at turning trade and investment opportunities into concrete outcomes. These opportunities include South Africa’s electricity grid expansion, renewable energy projects, sustainable aviation fuels, critical raw materials, and green hydrogen initiatives.
• The second area covers trade and investment facilitation measures, with the objective of making the business environment more transparent and predictable through the exchange of information on recent regulatory processes and by providing clarifications to industry stakeholders.
• The third area addresses regulatory cooperation on climate and energy, where both partners will work together on regulatory approaches, standards, and implementation frameworks to support the green transition.

CTIP Supports Investment, Supply Chains and Green Transition

The Clean Trade and Investment Partnership introduces a new model of trade engagement that combines competitiveness with climate action by encouraging mutually beneficial cooperation in the clean economy and in critical raw materials. Within this framework, governments are expected to play a key role in creating a supportive regulatory environment that enables investments to expand and achieve their intended impact. South Africa has set ambitious goals for its clean transition, including reforms to its electricity sector and the construction of approximately 14,500 km of new transmission lines over the next decade. As these plans move forward, the CTIP is intended to encourage investment opportunities across clean supply chains while delivering mutual benefits for both the European Union and South Africa.

The clean energy trade partnership builds on earlier milestones between the two regions. In November 2025, the EU and South Africa signed the first Clean Trade and Investment Partnership, establishing a framework to promote mutually beneficial trade, investment, and job creation while supporting decarbonisation and the development of clean supply chains. This form of cooperation is designed to strengthen the EU’s role as a preferred partner for countries committed to the clean transition.

In March 2026, both sides also held the first Business-to-Government dialogue under the Clean Trade and Investment Partnership (CTIP), providing an opportunity to gather business perspectives and priorities for the implementation of the agreement.

Trade Relationship Continues to Expand

South Africa remains the EU’s first CTIP partner and its largest investment partner in Sub-Saharan Africa. Trade flows reached 45 billion euros in 2025, while the EU continues to be the leading investor in South Africa, accounting for more than 40% of foreign direct investment.

Clean Trade and Investment Partnerships were introduced as a new policy tool by European Commission President Ursula von der Leyen in 2024 to support the EU’s decarbonisation and competitiveness objectives as part of the Clean Industrial Deal. As implementation progresses, clean energy trade continues to underpin cooperation between the EU and South Africa across investment, regulatory alignment, and industrial development.

The investment is intended to help lower-income EU countries upgrade their energy infrastructure while accelerating renewable energy deployment, improving energy efficiency, and lowering greenhouse gas emissions. In addition to supporting climate objectives, the EUR 2.5B fund is expected to reinforce Europe’s energy security by reducing reliance on imported fossil fuels and strengthening industrial competitiveness through cleaner and more efficient energy systems.

Romania Receives Largest Allocation as Countries Advance Energy Transition

Romania secured the largest share of funding, receiving €636.9 million. Hungary followed with an allocation of €552.3 million, while Czechia was awarded €516.8 million. Greece, Poland, Lithuania, Croatia, Portugal Estonia, Latvia and Slovenia  received €233.9 million, €180 million, €169 million, €109 million, €81.4 million, €44.8 million, €40 million and €20.2 million respectively.

Projects financed through this round of the Modernisation Fund are focused on expanding renewable energy generation, upgrading electricity networks, strengthening energy storage capacity, and improving energy efficiency. Several participating countries will also direct funding toward cleaner transport and heating systems.

In Czechia, financial support will be used to modernize district heating systems to improve efficiency and reduce emissions. Croatia intends to expand geothermal energy for regional heating projects. Estonia will replace diesel-powered public transport vehicles with zero-emission electric trolleybuses, while Latvia will introduce electric buses together with new charging infrastructure to support cleaner urban transportation.

Funding Programme Continues to Support Climate and Energy Goals

Portugal and Poland will allocate part of their funding to improve the energy efficiency of residential and public buildings, helping lower energy consumption and reduce emissions. Romania plans to invest in standalone battery energy storage systems to improve grid stability while supporting the growing share of renewable electricity in its energy mix.

The Modernisation Fund is designed to benefit 13 EU member states whose gross domestic product (GDP) per capita remained below 75% of the EU average during the 2016–2018 period. Although 11 countries received allocations under this funding round, Bulgaria and Slovakia also remain eligible for assistance through the programme.

Operating alongside other EU financial instruments, including the cohesion policy and the Just Transition Fund, the EUR 2.5B fund supports member states in achieving their climate and energy objectives. Eligible countries may submit applications for non-priority projects until 11th August 2026, while submissions for priority projects—which account for more than 90% of the fund’s portfolio—must be filed by 8th September 2026. Continued investment through the programme is expected to accelerate Europe’s transition toward a cleaner, more resilient, and sustainable energy system.

The discussions focused on three primary pillars: enhancing energy security, expanding clean energy cooperation, and facilitating a more robust LNG trade between the two regions. Participants included various ministers from the European Union, representatives from Canadian provincial governments, and prominent business leaders from both territories.

Developing Resilient Supply Chains and Infrastructure for Clean Energy

A significant portion of the roundtable was dedicated to the necessity of building reliable supply chains for clean energy. Leaders agreed that secure logistics and sourcing are fundamental to meeting the rising global demand for renewable energy technologies. The dialogue covered the modernization of electricity grid infrastructure and ensuring consistent access to critical energy components. By establishing stable regulatory and economic conditions, the participants aim to encourage increased private sector investment in large-scale energy projects.

The Role of LNG Trade in European Energy Security

Canada’s capacity to bolster European energy security through liquefied natural gas exports was another focal point of the meeting. As the European Union continues to diversify its energy procurement to ensure stability, Canadian resources are viewed as a dependable option for future requirements. To move from policy to practice, the event featured a business-to-business workshop. This session allowed Canadian project developers to interface directly with potential European buyers, specifically designed to foster new commercial partnerships and streamline future energytrade.

Strategic Outcomes and Future Summit Planning

The roundtable built upon the framework established during previous EU-Canada Summit, acknowledging that geopolitical uncertainties and supply disruptions necessitate closer ties between trusted allies.

Jørgensen described the EU-Canada Energy Partnership as a strategic relationship that assists both parties in responding to the dynamic global energy market. Hodgson reaffirmed Canada’s dedication to being a trustable energy supplier, noting that the collaboration between governments and the private sector creates actionable opportunities. He also said Canada will work together with the European Union to support secure, long-term and sustainable energy cooperation.

These discussions are set to inform the agenda for the upcoming EU-Canada Summit, scheduled for 29th and 30th October 2026 in Canada, where officials expect to finalize further collaborative policies for greater collaboration efforts.

Technical Integration and Project Framework

Under the terms of the agreement of the 25 GWh European battery storage deal, Tesla is set to provide its Megapack battery storage technology, along with engineering, procurement, and construction services. The collaboration also includes the use of the Autobidder platform for energy trading optimization. While Tesla provides the technological framework and services, the energy infrastructure projects will be owned and operated by NatPower.

The partnership is structured to move beyond simple equipment supply by integrating project development, financing, and construction into a unified framework. This strategy is intended to accelerate the deployment of large-scale battery energy storage. The initial phase of the program includes five projects across Italy and the UK, serving as the foundation for a broader pipeline that targets a total storage capacity of more than 100 GWh.

Economic Impact and Grid Requirements

NatPower estimates that the full development program could represent a construction value between $4 billion and $5 billion. Over a 20-year operational period, the initiative is projected to generate more than $15 billion in revenue. This European battery storage deal comes at a time of rising electricity demand, driven by widespread electrification and the rapid growth of artificial intelligence infrastructure and data centers.

Supporting Renewable Energy and Stability

Battery storage is emerging as a significant component of grid modernization. These assets are designed to assist with renewable energy integration by balancing intermittent power generation while providing essential grid stabilization and dispatchable power services. Europe is expected to require a substantial increase in storage capacity over the next decade to meet decarbonization targets and ensure the reliability of the power grid.

Tesla has established itself as a prominent provider of utility-scale battery solutions, while NatPower continues to expand its role as a developer of energy infrastructure projects in Europe. The storage assets involved in this agreement will focus on grid balancing, optimizing the output of renewable sources, and supporting industrial customers with high electricity requirements.

Executive Perspectives on Execution

Fabrizio Zago, CEO of NatPower, noted that the partnership signifies a transition from the development phase to large-scale execution.

Mike Snyder, Vice President of Tesla Energy, stated that the 25 GWh European battery storage deal utilizes integrated hardware, software, and construction capabilities to speed up the deployment of batteries across the European region.

The primary focus of this investment is to bolster grid reliability and support the large-scale renewable energy integration necessary for a successful transition to cleaner power sources. By enhancing the infrastructure, the project also aims to improve the efficiency of electricity exchanges with neighboring countries in the Western Balkans.

Technical Upgrades for Network Stability

The allocated financing will be utilized for the procurement and installation of four variable shunt reactors at strategically selected substations. These specialized devices are critical for the regulation of voltage levels within the transmission system. As the country incorporates more wind and solar power, these reactors will provide the necessary stability to manage more dynamic operating conditions, ensuring a sustainable power system for the long term.

By addressing technical challenges such as high voltage levels, the upgrades will expand the capacity of the energy infrastructure to accommodate new renewable energy projects. This power grid modernization effort is essential for maintaining a resilient network that can handle the fluctuations associated with renewable sources while reducing overall transmission losses.

Regional Integration and Economic Impact

Beyond domestic improvements, the power grid modernization will play a vital role in regional energy cooperation. Enhanced infrastructure allows for better management of cross-border power flows, fostering a more interconnected and efficient regional market. This alignment with international standards supports Bosnia and Herzegovina’s broader decarbonization goals and clean energy objectives.

Francesco Corbo, EBRD’s Regional Head of Energy for the Western Balkans and Croatia, stated that a robust transmission network is a fundamental requirement for the energy transition. He highlighted that the project would improve stron grid reliability and facilitate the deployment of renewable sources.

TransCo General Manager Dr. Miro Džakula further noted that these upgrades represent a vital step in strengthening the energy infrastructure to meet the rising demand for renewable energy integration and cross-border trade. This investment contributes to the overall efficiency of a sustainable power system, cut energy losses and will enhance operational stability.

The Korea Trade Insurance Corporation (K-Sure) announced on 22nd June 2026 that it will extend export financing support valued at €900 million for a large-scale solar power development in Serbia being carried out by a consortium that includes Hyundai Engineering. The EUR 900M solar project forms part of Serbia’s broader energy transition strategy as the country advances efforts toward European Union membership.

According to K-Sure, the development will involve the construction of solar power facilities with a combined generation capacity of 1200 megawatts. The scale of the undertaking places it among the largest renewable energy projects currently planned in the region. Hyundai Engineering is leading the EUR 900M solar project together with U.S.-based investment and development company UGT Renewables. Under the consortium structure, the partners will manage the engineering, procurement and construction (EPC) of the solar facilities, while major equipment requirements, including solar modules and transformers, will be supplied by South Korean manufacturers.

Reinsurance Structure Designed to Share Project Risks

K-Sure stated that its participation will take the form of a reinsurance arrangement covering the portion of financing supported by Sweden’s export credit agency, EKN, that is linked to the supply of Korean-made products. Through this framework, participating institutions will be able to distribute project risks while also supporting exports of renewable energy equipment produced in South Korea. The Serbia development carries particular significance for the South Korean renewable energy sector.

K-Sure noted that it is the largest overseas solar power project secured by a Korean company to date and also marks the first involvement of a South Korean firm in a Serbian national energy project.

Commenting on the development, K-Sure CEO Jang Young-jin said: “Korean companies’ involvement in this project is highly meaningful, as it is both the largest overseas solar project won by our firms and the first case of participation in Serbia’s national energy program.””As the global energy paradigm shifts toward cleaner and more sustainable sources, K-Sure will continue to provide strong support for Korean companies seeking opportunities in overseas renewable energy markets,” Jang added.

Second Renewable Energy Collaboration Between K-Sure and EKN

The agreement represents the second major renewable energy partnership between K-Sure and EKN. The two export credit agencies previously cooperated in 2020 on support for a solar power project in Angola. Through the reinsurance framework being applied to the EUR 900M solar project, the agencies are sharing project risks while helping mobilize financing for renewable energy infrastructure. Furthermore, the partnership aids in expanding the footprint of Korean companies beyond the boundary.

K-Sure expects the support package to enhance the international competitiveness of Korean engineering firms and manufacturers by increasing exports of high-value renewable energy equipment and services.