Dušan Živković, General Director of Elektroprivreda Srbije (EPS), emphasized that state-owned power companies must diversify both their energy sources and financing methods, the company announced. Speaking at the economic forum in Jahorina, Živković noted that every country expects its energy companies to ensure energy security, a situation that is also true for the region.
“In light of the expectation that power companies guarantee energy stability, we must consider the role of state energy companies as well as private capital, ensuring that energy security and sovereignty of every country are never compromised,” Živković said.
According to him, EPS has recognized these challenges and views diversification as continuing the development of hydroelectric capacity alongside new renewable energy projects.
“We are revitalizing 80% of our hydroelectric plants, modernizing thermal power plants to preserve key thermal capacities, while shifting focus towards renewables with small solar and wind farms, including a major 1,000 MW solar power project. Our strategic project is the reversible hydroelectric plant ‘Bistrica,’ which we are developing with foreign partners,” Živković explained.
He also stressed that alongside energy source diversification, it is crucial to diversify financing sources.
“By doing so, EPS ensures energy security and a stable supply for our consumers, and as the largest company in the region, we can assist others if necessary. Additionally, with partners in the region such as Elektroprivreda Republike Srpske, we are developing the hydroelectric project on the Upper Drina River and exploring opportunities with others to participate in building wind farms and solar plants. This is how we position ourselves as a company that wants to lead this part of the region forward, introducing new ways of thinking and new operating models. EPS has the capacity to lead the region through the energy transition,” Živković concluded.
