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.

On 22nd June 2026, GS E&C announced that it had entered into a memorandum of understanding (MOU) with global infrastructure investment firm I Squared Capital. Under the agreement, the two companies will establish a renewable energy joint venture (JV) focused on promoting renewable energy businesses within South Korea’s domestic market.

Focus on Solar Power and Battery Storage Projects

The cooperation is centered on a goal of developing and securing a combined 1.5GW of energy transition assets by 2035. The portfolio will primarily focus on solar power and battery energy storage systems (BESS). As part of the broader plan, solar power generation assets are expected to reach approximately 820MW. The total estimated cost of the initiative stands at about 3 trillion won. To fund the projects, the partners are reviewing a structure in which a portion of the capital would be invested directly through the renewable energy JV, while the remaining financing would be secured through external sources, including project financing (PF).

Strategic Shift Beyond the EPC Model

Through the establishment of the renewable energy JV, GS E&C intends to transform its renewable energy business from an EPC-centered structure into a developer-oriented model. This approach is regarded as offering stronger profitability and greater scalability because it enables participation in site acquisition, permissions and authorizations, business structure design, and the securing of business rights and power generation assets from the beginning of a project’s lifecycle.

Under the planned division of responsibilities, GS E&C will oversee new business discovery, site acquisition, permissions and authorizations, business structure establishment, project management, and technical advisory functions. Meanwhile, I Squared Capital will provide support in investment structure design and financing, drawing on its experience in global infrastructure investment.

The EU-Kuwait energy roundtable was organized by the EU Delegation to Kuwait as part of commemorations marking 40 years of diplomatic relations between the EU and Kuwait. The roundtable brought together representatives from Kuwait’s Ministry of Electricity, Water and Renewable Energy, the Kuwait Institute for Scientific Research (KISR), the Kuwait Foundation for the Advancement of Science (KFAS), the Kuwait Petroleum Corporation (KPC), alongside leading European energy experts and diplomats.

Focus Areas for EU-Kuwait Energy Cooperation

The discussions at the EU-Kuwait energy cooperation event centered on multiple dimensions of energy sector development. Participants examined promising opportunities across renewable energy projects, advanced technology deployment, infrastructure development, regulatory framework enhancement, investment mobilization, and capacity building initiatives.

The deliberations reflected the broader context of Kuwait’s commitment to achieving carbon neutrality by 2060, a goal that requires comprehensive restructuring of the nation’s energy landscape and increased reliance on clean energy sources.

European Expertise in Kuwait’s Energy Sector

EU Ambassador to Kuwait Anne Koistinen emphasized the long-standing contribution of European professionals to Kuwait’s energy development. She noted that European experts have collaborated with Kuwaiti counterparts for decades across multiple energy domains, including conventional oil and gas operations, renewable energy projects, engineering consultancies, technical standardization bodies, and policy advisory services.

Koistinen highlighted that the current roundtable built upon outcomes from the EU-Kuwait Green Transition Forum held in February, which was organized under the leadership of Kuwait’s Minister of Electricity, Water and Renewable Energy, Dr Sabeeh Al-Mukhaizeem. That forum brought together government officials, research institutions, and private-sector stakeholders to strengthen collaboration on clean energy, climate resilience, and skills development.

Strategic Partnership Framework

The EU Ambassador indicated that negotiations are being prepared for an EU-Kuwait Strategic Partnership Agreement. This formal framework would provide structured foundations for existing cooperation efforts and place particular emphasis on energy sector collaboration, creating pathways for more coordinated and sustained engagement between the two parties.

Key Outcomes and Stakeholder Perspectives

Dina AlNakib, Senior Director of Research and Technology Deployment at KFAS and moderator of the roundtable, emphasized the event’s success in bringing together leading European and Kuwaiti energy stakeholders. She noted that the EU-Kuwait energy roundtable effectively demonstrated the contributions of EU professionals within Kuwait’s energy sector and identified avenues for deepening cooperative efforts.

According to AlNakib, participants highlighted several critical elements necessary for effective energy transition. These included operational excellence, infrastructure readiness, technology deployment, supportive regulatory and investment frameworks, institutional knowledge transfer, and stronger partnerships among government agencies, industry, research organizations, and diplomatic stakeholders.

Learning from EU’s Energy Transition Experience

The EU-Kuwait energy roundtable also showcased valuable lessons from the EU’s own energy transition journey. Speakers highlighted that renewable energy now generates more electricity across the EU than fossil fuels, reflecting the bloc’s substantial restructuring of its energy system over the past decade.

This European experience holds particular relevance for Kuwait as it seeks to expand clean energy deployment and diversify its energy mix. The EU Delegation to Kuwait indicated its commitment to ongoing engagement with Kuwait to advance green transition initiatives. The organization stated that it will continue supporting the development of a more sustainable and resilient energy system through innovation, expertise sharing, and long-term strategic cooperation between the two partners.

Pattern Energy Group (Pattern Energy), a leader in clean energy and transmission infrastructure, has announced that the SunZia project, recognized as the largest renewable energy infrastructure project in U.S. history, has reached full operational status. The SunZia project is now capable of generating and delivering more electricity than the Hoover Dam while providing affordable and reliable energy to customers throughout the western United States.

Commenting on the milestone, Hunter Armistead, CEO of Pattern Energy, said, “SunZia proves that we can still build the consequential infrastructure this country needs.”

“We did this the right way, we did it on time and on budget – in genuine partnership with the local communities and landowners who trusted us, with the environmental stewardship this unique landscape deserves, and with the determination to see something through that many thought was too big and too complex to finish,” he added.

Adressing Rising Power Needs

The SunZia project consists of an approximately 3,650-megawatt (MW) wind project and a 550-mile high-voltage direct current (HVDC) transmission line. Together, these assets are generating and delivering affordable, American-made energy from New Mexico into Arizona and onward to customers connected to the western grid. Operating at full capacity, the facility can supply enough electricity to serve approximately one million American homes each year. The SunZia project is designed to address growing energy demand through new interregional transmission infrastructure capable of moving reliable and affordable power across long distances. In doing so, it tackles a key challenge facing the energy sector by combining large-scale energy generation with the transmission systems required to deliver that energy where it is needed.

Advanced Transmission Technology at Project Core

A central component of the SunZia project is its HVDC transmission network, which is engineered to transport significant volumes of electricity efficiently over extended distances. Converter stations located at each end of the transmission line convert electricity for transmission and then convert it back for use on the grid. Through this system, SunZia is deploying one of the first major HVDC systems constructed in the United States in a generation, creating advanced infrastructure intended to support large-scale power delivery.

Highlighting the broader significance of the development, Elliot Mainzer, President and CEO of the California Independent System Operator (ISO), said, “Projects of this scale help deliver energy reliably to areas of rising demand, improve the movement of power across states and support a more resilient, flexible and affordable electric system. SunZia represents the kind of long-term infrastructure investment needed to serve customers today and prepare the grid for the future.”

Economic Benefits and Community Investment

Construction activities on the SunZia project commenced in September 2023. At peak construction, the development supported more than 2,000 quality jobs. In addition, more than 100 permanent operations positions will be created across New Mexico and Arizona. The project is expected to invest over $20 billion in communities within those states, including $1.3 billion in direct payments to local governments, schools, counties and private landowners during the first 30 years of operation.

According to Pattern Energy, the fully contracted project progressed through extensive development, permitting, financing, construction and community engagement processes, requiring coordination among private companies, local governments, state and federal agencies, landowners and energy customers.

Building on the Success of Previous Projects

The new agreement builds directly on the achievements of the preceding project, which demonstrated substantial progress in large-scale renewable energy deployment. AMEA Power’s successful commissioning of the 500MW Wind Power Plant at Ras Ghareb, Egypt, in June 2025, established a blueprint for utility-scale development. Operating as Africa’s largest wind farm, the Ras Ghareb facility showcased AMEA Power’s capabilities in managing complex renewable energy projects while reinforcing confidence among investors regarding the bankability and scalability of such endeavors.

Combined Capacity and National Impact of Amunet II

The Amunet II project represents the second major utility-scale wind initiative for AMEA Power in Egypt. Upon completion, AMEA Power’s combined wind power capacity in Egypt will reach 1GW, a substantial contribution to Egypt’s renewable energy portfolio. This expansion directly supports the country’s strategic objectives for diversifying its energy mix and accelerating the transition toward cleaner power sources.

Strategic Partnership of Envision Energy and AMEA Power

“From Amunet I to Amunet II, our partnership with AMEA Power has evolved into a strategic collaboration built on trust, innovation and long-term value creation,” said Kane Xu, Senior Vice President of Envision Energy.

“The project demonstrates the scalability of our partnership model and the value of global collaboration in advancing the energy transition. Today, Egypt is increasingly playing a key role in the global energy transition. Envision will continue to leverage our leading technologies and global execution capabilities to deliver reliable and efficient clean energy solutions across Egypt and the wider MENA region, supporting a more sustainable energy future,” he further added.

“The successful delivery of our 500MW wind project in Ras Ghareb, Egypt, demonstrated what can be achieved when strong partners share a common vision and commitment to execution. The Amunet II project marks the next phase of our collaboration with Envision Energy and reflects our continued confidence in Egypt’s renewable energy sector. Together, these projects will bring our wind portfolio in Egypt to 1GW, supporting the country’s energy transition while creating lasting economic and social value,” said Hussain Al Nowais, Chairman of AMEA Power.

The project has been structured with a total capital expenditure of $111 million, financed through a combination of non-recourse debt and equity arrangements. The financing structure maintains a leverage ratio of approximately 70%. The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) serve as the senior lending institutions.

Project Partnership and Development Structure

Sidi Bouzid II has been developed through a collaborative partnership between Scatec and Aeolus SAS (Aeolus) that brings together complementary expertise in renewable energy development and investment. The ownership structure divides the project equally, with Scatec holding a 50% stake and Aeolus holding the rest 50% in the project.

Scatec will provide comprehensive project delivery services, including Engineering, Procurement and Construction (EPC), Asset Management, and Operations and Maintenance services. The EPC scope represents approximately 75% of total capital expenditure.

Renewable Energy Contribution and Climate Impact

Once it reaches commericial operation in second half of 2027, the Sidi Bouzid II solar power plant is projected to generate 276 gigawatt-hours of electricity annually. This electricity generation will contribute meaningfully to Tunisia’s renewable energy targets and enhance the nation’s energy security. Furthermore, the plant is expected to reduce annual CO2 emissions reductions by approximately 107,000 tonnes.

Currently electricity generation in Tunisia relies heavily on natural gas, which accounts for 95% of generation capacity. Notably, more than 60% of Tunisia’s natural gas requirements are met through imports, creating both economic and energy security considerations. Tunisia has established an ambitious target to increase renewable energy’s share of electricity generation to 35% by 2030.

EU Providing Financial Support for the Project

The Sidi Bouzid II project has received substantial support from the European Union through grant funding via the EU Neighbourhood Investment Platform and guarantees provided by the European Fund for Sustainable Development Plus.

Opening the event, Mr. Orkhan Zeynalov, Deputy Minister of Energy of the Republic of Azerbaijan, articulated the critical importance of regional energy connectivity as a driver for economic advancement and sustainable development.

IsDB’s Vision for Optimized Energy Resources

Delivering a keynote address, Mr. Issa Faye, Director General of Global Practice and Partnerships at IsDB, elaborated on how robust regional energy interconnections empower countries to optimize their energy resources more effectively. He emphasized that such collaborations enhance the reliability of electricity supply, reduce costs, significantly support the integration of renewable energy sources, and cultivate more robust regional economic cooperation.

Expert Panel Discusses Landmark Projects and Lessons Learned

The forum included in-depth panel discussions moderated by Mr. Idrissa Dia, Director of the Economic and Social Infrastructure Department (ESID) at IsDB. The distinguished panelists included H.E. Mr. Yusuf Majidi, First Deputy Minister of Finance of the Republic of Tajikistan; Mr. Sherard Cowper-Coles, Vice President and Corporate Secretary at the Asian Infrastructure Investment Bank; Mr. Siegfried Leffler, Head of Operations at GIZ International Services; and Mr. Abdoulaye DIA, Secretary General of the West African Power Pool (WAPP).

These leaders shared invaluable insights from their involvement in major initiatives such as CASA-1000, the OMVG Interconnection Project, and the Rogun Hydropower Plant. Their contributions provided crucial lessons on project preparation, financing strategies, effective governance, comprehensive risk management, and the development of commercially viable regional electricity markets.

Benefits of Interconnected Power Systems

Participants universally acknowledged that interconnected power systems offer substantial advantages. These include improved energy security, substantial cost reductions, expanded access to reliable electricity, and a greater capacity for integrating renewable energy sources. The discussions also brought to the fore the critical need for enhanced regional cooperation and the vital role of initiatives like Mission 300 in addressing escalating energy demand and underpinning long-term economic transformation.

Call for Accelerated Collaboration and Key Priorities

The event concluded with a compelling call for intensified collaboration among governments, development institutions, utility providers, and regulatory bodies. The objective is to accelerate the development of regional energy corridors. Key priorities identified for future action include deepening market integration, strengthening regulatory cooperation, pioneering innovative financing mechanisms, refining risk-mitigation frameworks, and fostering greater coordination among all stakeholders.

The deliberations reaffirmed the IsDB’s unwavering commitment to advancing regional integration through the development of sustainable energy infrastructure, with the ultimate goals of promoting energy security, facilitating economic transformation, and fostering shared prosperity.

Supporting Renewable Energy Expansion

The introduction of the ABB Proteus solar storage offerings comes at a time of significant global investment in large-scale renewable energy infrastructure. As the International Energy Agency (IEA) projects a 60% increase in utility-scale renewable electricity generation over the next four years, the need for reliable and scalable power solutions is paramount. ABB will be presenting its new solar inverter from the Proteus range at Intersolar 2026 in Munich, Germany, from 22nd June to 25th June 2026.

Commenting on the launch, Daniel Gerber, Business Line Manager for Renewable Power at ABB, said, “The global energy transition requires proven, scalable, and reliable power conversion solutions. With over 120 GW of power conversion capacity installed to date, ABB combines its enhanced portfolio of PV, BESS, and control systems technologies, global presence, engineering, manufacturing, and service capabilities to deliver high performance and consistent project execution worldwide.”

High-Efficiency Solar Power Conversion

The Proteus portfolio features solar inverters, stations, and control systems specifically developed for utility-scale applications. ABB highlights that these systems can achieve efficiencies of up to 99.45%, maximizing energy output from solar installations. Furthermore, the solutions are designed to deliver ultra-clean power with a total harmonic distortion of current (THDi) below 0.7%. This characteristic is crucial for reducing stress on electrical equipment and potentially extending asset lifespan.

Enhancing Grid Stability with Battery Storage

Beyond its solar applications, the Proteus platform is strategically positioned to support the expanding role of battery energy storage systems (BESS) in modern power networks. ABB’s Proteus BESS solutions incorporate bi-directional converter stations and sophisticated control systems. These systems are engineered to provide grid-forming and black-start capabilities, while also ensuring compatibility with a variety of battery technologies.

With a global installed base of over 120 GW of power conversion capacity and operations in more than 70 countries, ABB serves utilities, EPC contractors, and renewable energy developers across major energy markets. The Proteus portfolio is anticipated to have a service life of up to 30 years and is backed by comprehensive lifecycle services, ensuring long-term performance for utility-scale solar and battery energy storage deployments.

The project will be implemented under the leadership of the state-owned Egyptian Electricity Transmission Company (EETC) and is intended to enable the integration of 22 gigawatts (GW) of renewable-energy capacity into the national network by 2030. This volume of renewable generation is expected to provide enough electricity to serve approximately 10 million households. By reinforcing the clean energy grid, the investment aligns with Egypt’s national priorities to expand renewable energy deployment, improve electricity infrastructure and strengthen its position as a regional energy hub. The initiative also contributes to the objectives of the EU-Egypt Strategic and Comprehensive Partnership by promoting investment mobilisation, advancing renewable energy cooperation and supporting the transition toward a more sustainable, secure and competitive energy system.

“This agreement reflects the strength of the partnership between Egypt and the European Union and our shared determination to advance the green transition,” said Badr Abdelatty, Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates.

“Together with the EIB and the EU, we are taking an important step to modernise our electricity network, strengthen energy security and create new opportunities for sustainable growth. This is the kind of practical cooperation that brings real benefits to our economy and our people,” he added.

The clean energy grid initiative is among the first major operations launched under the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative, (T-MED), which serves as a flagship programme of the Pact for the Mediterranean. The framework is intended to promote renewable energy and clean-tech cooperation between the European Union and its southern Mediterranean partners.

European Commissioner for the Mediterranean Dubravka Šuica said, “Under its newly launched flagship initiative, T-MED, today we presented a major EU-supported project to strengthen and expand Egypt’s electricity infrastructure. This will reinforce Egypt’s role in the regional energy markets and create major business opportunities for local and European companies. It is another testimony of our shared commitment to sustainable growth, energy security and long-term prosperity in the Mediterranean.”

The agreement includes plans to examine cooperation across offshore wind supply chains, transportation of wind turbine components, development of pre-assembly hubs and support services for offshore energy projects in Europe and other international markets. The initiative represents a further step in AD Ports Group’s strategy to strengthen its presence in the growing offshore wind energy sector and wider renewable infrastructure market.

The framework agreement also outlines the exploration of fabrication, assembly and logistics solutions linked to offshore energy infrastructure. In addition, the companies will assess opportunities to work together on selected offshore wind tenders. The partnership builds on AD Ports Group’s broader efforts to expand its activities in offshore and renewable energy. Over recent months, the Abu Dhabi-listed company has announced a series of offshore and renewable energy initiatives involving companies such as Masdar, Siemens Energy and Green Parrot. The group has also expanded its maritime capabilities through the acquisition of Spanish shipyard Balenciaga Astilleros, a specialist in vessels designed to serve the offshore wind energy industry.

Commenting on the agreement, Friedrich Portner, chief commercial officer of the maritime and shipping cluster at AD Ports Group, said, “We are pleased to partner with Dajin Heavy Industry to jointly work on opportunities that leverage our maritime and logistics capabilities in support of the offshore wind sector, a strategic growth area for us.”

“Together, we aim to deliver more integrated, efficient solutions across the renewable energy value chain,” he added.

Walid Oulmane, chief commercial officer for new products at Dajin Heavy Industry, said the partnership would bring together industrial, maritime and logistics capabilities to pursue opportunities associated with the global energy transition.

According to forecasts cited by AD Ports, the offshore wind energy sector is expected to grow from approximately $109bn in 2026 to more than $307bn by 2035, driven by ongoing commitments from governments and developers to large-scale renewable energy projects.