Vladan Rankov, Head of Project Finance and Offtake at CWP Europe – CWP Europe continues to lead the green transition in the region

CWP Europe is driving the energy transition in Southeast Europe, focusing on large-scale renewable projects - from wind farms and solar power plants to hybrid solutions and energy storage systems. While the company recently took part in an industrial project in Serbia, its focus remains on projects that can deliver real impact at scale. We spoke with Vladan Rankov, Head of Project Finance and Offtake at CWP Europe, about the company’s strategy and the impact of these projects on the industry and ESG objectives.

CWP Europe participated as an investor in the rooftop solar project at Henkel Serbia in Kruševac. What was your role and contribution to the project’s implementation?

– CWP Europe played a central role in financing the project, providing the initial investment and establishing the structure for the remaining funding in partnership with UniCredit Bank. This ensured a stable and sustainable foundation for the project’s successful implementation.

The ESCO model requires precise coordination and expertise. How did CWP leverage its experience and innovative approach to support this project?

– Our extensive experience in developing, financing, and constructing renewable energy projects across Southeast Europe was crucial to the project’s success. In collaboration with our ESCO partner, Resalta - the technical executor at Henkel’s facility - we provided expert oversight and consultancy support during the final development phase and throughout construction. This approach ensured the project was delivered efficiently, transparently, and to the highest standards.

What impact does this project have on reducing CO₂ emissions and the plant’s ecological footprint, and how does it contribute to CWP Europe’s ESG objectives?

– The rooftop solar plant at Henkel’s facility additionally reduces CO₂ emissions and increases the share of green energy in the plant’s consumption. With this, it is estimated to cut emissions by 5,857 tons of CO₂ annually, directly contributing to the factory’s ecological footprint. For CWP Europe, projects like this align with our ESG framework by promoting sustainable business practices and actively supporting the energy transition in the industrial sector.



CWP Europe is recognized as a leader in large-scale projects. How do smaller-scale industrial initiatives allow CWP Europe to showcase its adaptability and innovative approach?

– Innovative financial models, such as the ESCO model, can be successfully applied to smaller industrial power plants. Its particular value lies in the fact that all risks - construction, operation, maintenance, and performance - were assumed by the investor and the ESCO partner, while the industrial partner benefits from green energy without additional operational burden. The project also highlights how such solutions can enhance ESG ratings, improve electricity cost predictability, and boost the competitiveness of green energy - factors that are strategically important for long-term sustainable business.

How does CWP Europe identify and develop such projects in the industrial sector, and what is critical for their successful implementation?

– Our primary focus is on large-scale projects - wind farms, solar plants, and BESS - where economies of scale make green energy cost-competitive. Our mission is to provide the energy produced from these projects to industrial consumers in Serbia and other markets we operate in, especially in sectors with high and stable demand for green energy.

What are your plans and vision for future renewable energy projects in Serbia and the region?

– Our plan is to develop and implement new hybrid projects in the coming years that combine multiple renewable energy sources, including energy storage, and deliver this power directly to local consumers and suppliers. CWP Europe will continue to drive the green transition by providing flexible, commercially sustainable solutions that help end-users reduce costs while actively supporting decarbonization goals.

CWPR Services doo Beograd

Henkel Srbija d.o.o. Beograd

CWP Europe

Henkel Serbia

Vladan Rankov

solar power plant

ESCO model

green energy