Nextcom and UDIAN Investments Partner for Balkan Renewable Energy Projects
Nextcom Group announced that its renewable energy venture arm, CRE Entrepreneurship, has signed a cooperation agreement with UDIAN Investments, owned by Audie Angel. The partnership aims to initiate, develop, and advance renewable energy and energy storage projects across the Balkan region.
The collaboration will focus on identifying, developing, financing, constructing, and operating renewable energy projects, with a particular emphasis on Battery Energy Storage Systems (BESS) connected to high-voltage grids. Nextcom, controlled by CEO Guy Israeli and valued at NIS 210 million, reported revenues of NIS 238 million and a nominal profit of NIS 12,000 in the first half of the year.
Initially, the partnership will encompass five projects in Serbia and North Macedonia, totaling a planned capacity of 300 megawatts (AC). Two projects in North Macedonia will each have a capacity of 50 megawatts, while Serbia will host three projects: two at 50 megawatts each and one at 100 megawatts. These projects have received preliminary grid connection approvals from local electricity network operators, a significant milestone according to the developers.
Nextcom stated that this venture marks its entry into international renewable energy and storage entrepreneurship, aligning with its growth strategy and leveraging its experience in Israel. The five Balkan projects form the initial portfolio, serving as a foundation for future developments. Both parties will hold equal stakes in the joint projects through dedicated project companies.
CRE Entrepreneurship will lead opportunity identification and project development, utilizing Nextcom's expertise in planning, engineering, regulation, construction, and operation. UDIAN, in conjunction with Nextcom, will spearhead the arrangement of senior financing for the projects. The partnership's scope currently includes Serbia, North Macedonia, and Montenegro, with provisions for expansion into other countries.
