Serbia heavily subsidizes coal and electricity prices, inhibiting competition. Recently, the Serbian government and EPS have announced ambitious plans to transition to green energy solutions and reduce Serbia's dependence on Russian natural gas.
The Ministry of Mining and Energy has announced a €15 billion investment plan for the electricity sector in next several years, expecting to reach more than 3 GW of renewable energy production plants. The main players and investors in the Serbian Energy Sector are:
Serbia is interested in a developing a Pumped Storage Hydro (PSH) project at Djerdap. The project is located east of Belgrade on the Danube River bordering with Romania. First conceived in 1974, Djerdap III is envisioned as a facility capable of daily and seasonal water regulation, with installed capacity of between 1800 and 2400 MW.
Serbia's total 11 MW of installed solar capacity (5.34 MW from land installations and 3,476 MW from roof installations in a total of 107 projects) is negligible. According to the International Renewable Energy Agency (IRENA) Serbia has an estimated potential of 3.6 GW. Currently, Serbia's installed and utilized wind-power capacity is below 500 MW.
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