We position Serbia as an active participant in the global fight against climate change Mining and Energy Minister of Serbia

Caspian Energy (CE): With the global push toward sustainability, how is Serbia progressing in its transition to green technologies, particularly in energy production and industrial sectors?

Dubravka Đedović Handanović, Minister of Mining and Energy of Serbia: Serbia has set ambitious but achievable goals in its energy transition, as outlined in its strategic documents. Our plan is that by 2030, every se­cond megawatt-hour produced will come from renewable sources, making RES the leading energy source. We also aim to reduce CO2 emissions by 40.3 percent compared to 1990 levels by 2030 and to significantly increase our energy efficiency.

To achieve this goal in the field of electricity generation, we need to build around 3.5 GW of solar and wind capacity, through a combination of public and private investments. Regarding public investments, Elektroprivreda Srbije (EPS) will complete its first wind power plant this year. Additionally, at the end of 2024 we signed a contract for the construction of 1 GW of solar power plants with 200 MW of battery storage, which, upon completion, will become part of the EPS portfolio by 2028. This is one of the largest pro­jects of its kind in Europe, and we will implement it with investors from South Korea and the USA.

I would like to point out that Serbia has recently received an investment ra­ting, which further confirms the positive investment environment for private investors. Through a combination of public and private investments, we will be very close to achieving our 2030 goals when it comes to new capacities from RES. In the first round of auctions for market premiums in 2023, we secured 715 MW of new solar and wind power plants, with an investment of 1.2 billion euros. These power plants will be built by the end of 2026, and the second round of auctions is currently underway, in which we have offered a total of 425 MW of new capacities. Given that the domestic industry is increasingly turning to green energy to meet its needs, it is particularly important that the increase in production from RES, at this point, is focused primarily on the needs of our citizens and the economy.