Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović, has announced a significant investment of EUR 400 million in the rejuvenation of four state-owned hydropower plants operated by the power utility EPS. In addition, international financial institutions are posing challenges to gas investments, prompting the government to focus on renewable energy sources such as wind and solar power, with auctions scheduled for when the market is deemed ready.
Handanović recently engaged in discussions with a delegation from the International Monetary Fund (IMF) to review Serbia’s standby agreement, emphasizing the importance of investments, energy sector reforms, and strategies to enhance energy security and diversify energy sources.
“In our commitment to the decarbonization of the energy sector, it’s crucial for the government to act responsibly and ensure supply security while enhancing energy independence,” Handanović emphasized. She stressed the necessity of significant government investment to achieve decarbonization goals set forth in international agreements.
Furthermore, Handanović highlighted the imminent completion of the desulfurization system at the TENT A coal-fired power plant, marking a significant environmental milestone. She also disclosed ongoing negotiations with Hyundai Engineering and UGT Renewables for a strategic partnership aimed at improving energy enterprise efficiency.
Anticipating the commissioning of the new coal plant, Kostolac B3, Handanović outlined plans for additional renewable energy projects, including the construction of solar power plants with battery storage, with intentions to transfer these systems to EPS.
The minister’s vision includes the swift completion of the Kostolac B3 coal plant and the inauguration of EPS’s first wind park in Kostolac by the first half of the following year. Additionally, progress has been made in preparing for the construction of the Bistrica pumped storage hydropower plant.
Handanović also addressed plans for gas interconnections with North Macedonia and Romania as a priority for natural gas supply diversification. Despite challenges in securing financing for gas projects, collaboration with energy entities like Elektroprivreda Srbije and Srbijagas is ongoing to develop flexible pricing methodologies in response to market dynamics.
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