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“Green” turn in Serbia – Investments in wind and solar exceed one billion euros

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With a new 700 megawatts from wind and solar energy, Serbia will double its renewable energy capacity in the next three years. Green investments of over one billion euros were brought by the first auction organized by our country for renewable energy capacities.

Serbia already has eight wind farms, and the first competition between foreign and domestic investors for market premiums will start the construction of nine more power plants that will produce electricity from wind and sun. This brings energy independence to the country, and a favorable electricity price was achieved at the auction.

“We are very satisfied with the first auction in Serbia, it was the largest in the region and these are excellent, mature projects. As for prices, there was certainly competition, there were offers below the projected price, which is a great sign,” says Mateo Colandeni, regional Director of the EBRD for the Western Balkans.

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“The price achieved by the investor bidding is almost twice lower than the current market price, which will mean additional income for our energy system. And citizens will have more clean energy sources, a healthier environment and less CO2 emissions. Successfully conducted auctions are the best invitation for other interested investors to use the potential that exists in Serbia and be part of a large investment cycle in the field of energy,” said Dubravka Đedović Handanović, Minister of Mining and Energy.

The most important thing is that the EPS is also determined to speed up the started green projects – the wind farm and the solar power plant in Kostolac, and the country’s priority is the construction of the Bistrica hydroelectric plant.

“Bistrica, with a power of 680 megawatts, is one of the most important in our recent history. This reversible hydroelectric plant will enable the balancing and stability of the electric power system, not only in Serbia, but also in the region,” says Dušan Živković, general director of EPS.

The Association of Renewable Energy Sources of Serbia reminds that the first auction was marked by investments in wind, while interest in the construction of large solar power plants is less. The next auctions are expected to change that as well.

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