Clients: Joanneum Research and Green Energy Cooperative. Funding: IRENA

Cost-competitive renewable power generation: Potential across South East Europe 

The project

This projects is a qualitative analysis of the renewable electricity potential and obstacles to the development of renewable electricity in South East European member states (Bulgaria, Croatia, Romania and Slovenia) as well as all contracting parties to the Energy Community Treaty. 

What we did

Starfish Energy performed stakeholder interviews and conducted the qualitative analysis for Serbia, Bosnia and Herzegovina, Kosovo and Ukraine.


The results are available here.



Clients: Austrian Development Agency, BACID grant

The project

The aim of the project is to improve the financing environment for renewable energy project in Bosnia and Herzegovina, through addressing administrative risks arising from complex permitting procedures. This will be done through a workshop in Banja Luka in October 2017, where participants from local municipal bodies will learn about permitting for renewables and the main sources of risks 

What we did

Starfish Energy lead the project in the proposal write up stage and developed the projects consortium consisting of Joanneum Research, Agency for economic development of the City of Prijedor (PREDA) and the City Development Agency Banja Luka (CIDEA). In the implementation stage Starfish Energy held four stakeholder interviews, conducted initial screening of administrative risks for renewable energy in Bosnia and Herzegovina and held the workshop that was attended by 20 officials from 10 different municipalities from BiH.


The project results are available here.

Improving the financing environment for renewable energy through local administrative capacity building


Client: Ecofys. Funding: Private investor

Renewable energy market analysis for Croatia, Serbia and Bosnia and Herzegovina

The project

The Western Balkan renewable energy markets are complex, due to unstable government policies, government owned energy markets and administrative barriers. Therefore the project developed a market risk assessment matrix for a private investor, in order to inform their decision of investing into Croatia, Bosnia and Herzegovina and Serbia.

What we did

Starfish Energy informed Ecofys on these three markets including a detailed description of government policies, progress in renewable energy target achievement, permitting procedures, electricity market designs, wind and solar potentials as well as concrete projects that could be purchased. 


The results are not public.


Clients: Ecofys and Eclareon. Funding: European Climate Foundation

The project

The objective of the Pricetag project funded by the European Climate Foundation is to update the 2014 wind onshore cost of capital data from Diacore and to provide cost of capital data for PV projects for 2016 in 6 South Eastern European (SEE) Member States: Bulgaria, Croatia, Greece, Hungary, Romania, the Slovak Republic. 

What we did

Starfish Energy lead the investigation for Croatia, through conducting interviews with eight stakeholders, from the Croatian financial industry, renewable energy project developers and regulators. In the interviews the participants were asked to estimate costs of debt, costs of equity, debt to equity ratios and WACC for solar PV and wind energy projects. Finally we disseminated the results to the Croatian media.


The study can be downloaded here.

Mapping the cost of capital for wind and solar energy in South East European Member States (PRICETAG)



Zagreb Office

Tosovac 7

10000 Zagreb, Croatia

Berlin Office

Lohmühlenstraße 65, 12435 Berlin, Germany (c/o Factory Berlin)

Starfish Energy d.o.o. 

OIB: 12300680206


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