Elektroprivreda Srbije (EPS) is set to construct six large solar power plants, as confirmed by a contract signed by Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović and EPS General Manager, Dušan Živković, along with executives from the American company UGT Renewables and South Korean Hyundai Engineering. The signing took place at the Palace of Serbia in Belgrade, attended by President Aleksandar Vučić and the ambassadors of the U.S. and South Korea.
The consortium, comprising UGT and Hyundai Engineering, has been awarded the project to build solar power plants with a total capacity of one gigawatt, alongside battery systems for electricity storage of 200 megawatts. The plants will be located in the municipalities of Negotin, Zaječar, Odžaci, Lebane, Leskovac and Bujanovac.
The largest solar facility is planned for Negotin and Zaječar, with a capacity of 460 megawatts, followed by a 302-megawatt plant in Bošnjace, Lebane. According to the Ministry of Mining and Energy, these solar installations will generate approximately 1,600 gigawatt-hours of electricity annually, ensuring a stable supply for households across Serbia.
President Vučić highlighted the importance of the new projects, stating that they would enable Serbia to significantly reduce electricity imports, saving around 120 million euros annually. He expressed confidence that the financing conditions for the project would be finalized by April or May next year, with the project’s total value estimated at 1.4 billion euros.
Hyon Song Hong, President of Hyundai Engineering, described the initiative as one of the largest renewable energy projects in Europe, which will transform Serbia’s energy landscape. The U.S. Ambassador to Serbia, Christopher Hill, praised the agreement as a major step towards energy independence and a commitment to renewable energy.
The project is expected to eliminate the need for electricity imports during dry periods, enhancing EPS’s capacity to generate power from domestic sources. Energy expert Željko Marković noted that the solar plants will contribute significantly to Serbia’s energy stability.
The commercial operation of the solar power plants is projected to begin by June 1, 2028. The facilities will feature advanced photovoltaic panels, tracking systems, and comprehensive electrical infrastructure.
