Serbia prepares €35bn investment plan focused on RES

Serbia’s Energy Minister Zorana Mihajlovic said on June 6 that the government has drafted a new investment plan with projects worth €35bn focusing on renewable energy sources and hydropower plants.

Mihajlovic, speaking at the Serbia Goes Green conference, said that long-term energy security requires energy transition and greater use of green energy, noting that Serbia can be a regional leader in the decarbonisation process. 

“We are also drafting a national plan for climate and energy and an energy development strategy that will determine the path of our energy sector in the next 20 to 40 years,” Mihajlovic said.

"Our vision is to be a completely decarbonised country by 2050, and to increase the percentage of energy obtained from RES by 2030 from the current 3.5% to at least 15%, while reducing production from the thermal power plants," Mihajlovic said.

The focus will be on solar and wind power plants.

Mihajlovic said that Serbia adopted a new legislative framework, noting that for the first time the country has the law on the use of RES and the law on rational use of energy and energy efficiency.

According to her, Serbian laws are fully harmonised with European standards.