EPS plans to invest EUR 3.5 billion in green energy by 2030.

By 2030, the Serbian Electric Power Company will invest more than EUR 3 billion in green energy investment projects, out of which more than 2 billion in renewable energy projects and around 1 billion in the construction of new and revitalization of existing hydropower plants, according to Aleksandar Jakovljevic, Executive Director for Investments and Development at EPS.

As announced by EPS, at the panel "New Projects for RES" within the conference "Auctions and Projects for Renewable Energy Sources - the Road to Green Kilowatts", he emphasized that EPS is intensively planning investments to ensure energy security, continuous electricity supply and that the construction of the Kostolac wind farm and the Petka solar power plant is nearing completion.

Jakovljevic also said that a project to build 1,000 megawatts of solar power plants with battery storage is under wraps, and preparatations are also underway for the construction of the reversible HPP Bistrica, one of the key projects for ensuring an increasing share of RES in the coming period.

Rade Mrdak, Advisor to the Minister at the Ministry of Mining and Energy, emphasized that the vision is for Serbia to have 11 gigawatts of green energy on the grid by the end of 2040. He said that two rounds of auctions have been completed so far, and that through the three-year auction plan, the energy system will receive 1,300 MW of green energy from private investments, which will contribute to the de-carbonation of the electricity sector.

- As of recently, the second round of auctions was successfully completed. The result is ten new green power plants, investments of EUR 782 million, while the offered quota of 424.8 MW has been exceeded, and the capacities to be built are 645 MW. New solar and wind power plants will contribute to greater energy security because the produced green energy will remain in Serbia and will not be exported to other markets - said Mrdak.

The Minister's advisor pointed out that thanks to investments in the RES sector, Serbia will provide 3.5 GW of new green energy by the end of the decade and that almost every second megawatt-hour of electricity produced will come from renewable energy sources.

Davor Pupovac, Director of the Market Analysis Sector at EPS, said that the first auctions for EPS were a great experience and that electricity purchase agreements were signed with almost all winners from the first auction.

- EPS is the only company in Serbia that can offer both a secure placement of that energy and balance the energy from RES. Everyone who participated in the second auction signed a preliminary contract with EPS in order to be more competitive at the auction, and the journey from the first to the second auction was a learning period for both EPS and market participants - explained Pupovac. - EPS is also changing its planning method, because we are already predicting the amount of production from RES. Last year, it was 2 GWh from the old feed-in tariff system. In 2027, it will reach 4 TWh and this changes the way EPS plans and operates both on an annual and daily basis. The need for optimizing day-ahead and intraday planning is changing, and EPS has taken steps to improve management in this operational area.

Elektroprivreda Srbije ad Beograd

Ministarstvo rudarstva i energetike Republike Srbije

Electric Power Company of Serbia

EPS

Ministry of Mining and Energy

Rade Mrdak

Aleksandar Jakovljevic

Davor Pupovac

New projects for RES

Auctions and projects for renewable energy sources - the road to green kilowatts

Kostolac wind farm

Petka solar power plant

RHE Bistrica