Alcazar Energy secures $490 M for renewables in Western Balkans

Dubai-based Alcazar Energy closed a $490 million fund aimed at fast-tracking renewable energy projects across emerging markets, including two wind farms (456 MW) already under development in the Western Balkans. Supported by major backers like EBRD, AIIB, Allianz, DFC, and Austria’s development bank, the fund targets a total of 1.6 GW of clean capacity. This will slash approximately 3 million tonnes of CO₂ annually - enough to power around 300,000 households. The initiative underscores private sector confidence in both the region’s decarbonization trajectory and the need to curb carbon intensity ahead of EU import levies.