Development of renewable energy projects in Serbia slowed down – RES Serbia 2026 conference opens

Over 600 participants gather in Vrdnik to discuss the future of renewable energy in Serbia and the region

The RES Serbia 2026 conference, one of the leading regional gatherings dedicated to renewable energy sources, opened today in Vrdnik, attended by more than 600 representatives from the energy sector across Serbia and 30 other countries.

In a packed hall at the Vrdnicka Kula ethno-complex, the conference was opened by Dubravka Djedovic Handanovic, Minister of Mining and Energy, Grzegorz Zielinski, Director for Southeast Europe at the European Bank for Reconstruction and Development (EBRD), Mohamed Jameel Al Ramahi, CEO of Masdar, and Milos Colic, Chairman of the Board of RES Serbia.

Milos Colic: Renewable energy projects at risk

Milos Colic, Chairman of the Board of the Renewable Energy Sources Serbia association, warned that renewable energy projects were blocked or seriously jeopardized, while the association’s initiative to amend regulations remained pending. He noted that, in the preceding years, investors had posted substantial bank guarantees as proof of their intent and readiness to implement these projects.

– Today, some of those guarantees are at risk, not because investors failed to do their job, but because they are waiting for decisions and actions from the authorities. In other words, they could face consequences for delays beyond their control – Colic pointed out, adding that clear procedures, predictability, and continuous, planned development were essential.

Colic pointed out that, at the same time, the entry of new wind and solar projects into the development pipeline had effectively been halted until 2029.

– We understand the need to protect the grid. However, halting development for several years is not a good solution. No matter how legitimate investors’ interests may be, this is not merely a matter of investor interests. Every new green megawatt integrated into Serbia’s power system represents a public good. It means new domestic energy, greater energy security, and increased market competition. And, in the long run, it exerts downward pressure on energy prices – Colic emphasized.

He warned that if the development cycle was interrupted, Serbia could not simply press a button three or four years later to instantly put new power plants on the grid.

– Energy projects are not developed overnight. Therefore, the private and public sectors should not view each other as competitors. We have distinct roles, yet we share the same power system. Only by working together can we make it stable, modern, and capable of supporting Serbia’s development – Colic concluded.

Grzegorz Zielinski: Renewable energy momentum slowing in Serbia

Grzegorz Zielinski, Director for Southeast Europe at the European Bank for Reconstruction and Development (EBRD), stated that new renewable energy capacities generated millions of euros in investment, provided cheaper electricity, and demonstrated the private sector’s ability to execute investments.

However, he expressed concern that renewable energy momentum was stalling in Serbia, precisely at a time when the cost of new renewable sources had dropped dramatically, energy security had improved, and the impact of climate change was more visible than ever.

– Investments in renewable energy are accelerating worldwide, yet in Serbia, we see a different trend, with new projects being postponed until 2029. Wind and solar power accounted for only 5% of Serbia’s electricity generation in 2025 – Zielinski emphasized.

Nevertheless, he remains optimistic about future development, noting that Serbia possesses capable companies for constructing energy projects and a large community ready to support the energy transition.

– The question is not whether Serbia can do it, but rather how ambitious we will be. The EBRD is here to support this process as a partner – Zielinski concluded.

Mohamed Jameel Al Ramahi: Serbia and the Western Balkans central to Masdar’s European strategy

Masdar CEO Mohamed Jameel Al Ramahi reminded that the financial close for the Cibuk 2 project had been announced two years before at the RES SERBIA conference, followed by its official commissioning the day before.

– Serbia set a clear ambition - to achieve a more secure and competitive system - and this conference has turned a significant part of that ambition into reality. When Masdar arrived in Serbia, everything was in its infancy, the market was just taking shape, and major projects were yet to be built. Today, we have 300 MW of operational capacity across the Cibuk 1 and Cibuk 2 wind farms. That journey demonstrates what this market is capable of achieving – Al Ramahi emphasized.

He highlighted that he viewed Serbia and the Western Balkans as central to Masdar’s future in Europe, adding that the company was ready to bring more capital and investment into the wider region.

– To unlock a new wave of investment, we need clear and consistent policies, stronger grids and interconnections, both within the country and across the region, as well as partnerships. Cibuk is the first chapter, but let us build new ones - for Serbia, the Western Balkans, and Europe – Al Ramahi stated.

Dubravka Djedovic Handanovic: Serbia has shown it is on the right track

Minister of Mining and Energy Dubravka Djedovic Handanovic, addressing the participants as the envoy of Serbian President Aleksandar Vucic, noted that renewable energy sources were experiencing rapid growth globally. She highlighted that nearly 700 GW of new capacity had been recorded worldwide the year before, with solar power plants accounting for over 500 GW of that total. Furthermore, over the past decade, global capacity has risen from 2 TW to 5 TW, with a target of reaching 11 TW by 2030.

At the same time, as she explained, electricity consumption is rising, with estimates indicating that global demand for electricity will grow by 3.6 percent this year.

– Serbia has demonstrated that it is on the right track and that clean energy sources are playing an increasingly important role. Over the past four years, total renewable energy capacity has increased from approximately 400 MW to over 1.3 GW, and we expect to reach 1.5 GW by the end of the year – the minister stated.

According to her, two rounds of auctions have supported 17 new solar and wind power plants with a total capacity of 1.2 GW and an investment value of 1.5 billion euros. She noted that nine power plants were already connected to the grid, and that the goal of reaching at least 3.5 GW by 2030 appeared not only achievable but realistic.

Addressing the postponement of new projects, the minister emphasized that there were 12 GW worth of projects in the transmission network pipeline, or 15 GW if the distribution system was included.

– That is many times more than the system can integrate, so it was necessary to extend deadlines to 2029 to assess which projects remain in the portfolio and to free up space for mature investments. The goal is not to slow down development but to create a sustainable system where viable projects have the opportunity to be built – the minister stressed, adding that amendments to the Law on the Use of Renewable Energy Sources were being drafted and that they would, among other things, include the establishment of zones for the accelerated development of renewable energy sources.

About RES SERBIA 2026 Conference

The RES SERBIA 2026 Conference is being held for the sixth time, organized by the Renewable Energy Sources of Serbia association. This year, it brings together over 600 participants from 30 countries, as well as 50 domestic and international speakers. Attendees include decision-makers and representatives from institutions, energy companies, investors, the financial and legal sectors, equipment manufacturers, and other stakeholders in the energy transition. Over the course of two days, discussions will cover investments, regulations, energy storage, and market changes, focusing on issues crucial to the further development of renewable energy sources and the energy sector in Serbia and the region. The eKapija portal is the conference’s media sponsor.

Obnovljivi izvori energije Srbije

EBRD Evropska banka za obnovu i razvoj Beograd

Ministarstvo rudarstva i energetike Republike Srbije

Masdar Renewable Power Services d.o.o. Beograd

Masdar Taaleri Generation d.o.o. Beograd

Renewable Energy Sources of Serbia Association

RES Serbia

European Bank for Reconstruction and Development

EBRD

Masdar

Ministry of Mining and Energy

Dubravka Đedović Handanović

Grzegorz Zielinski

Mohamed Jameel Al Ramahi

Miloš Colić

Aleksandar Vučić

RES SERBIA 2026 Conference