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Serbia signs agreements with EBRD to boost renewable energy investments

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The Minister of Mining and Energy of Serbia, Dubravka Đedović Handanović, signed two collaboration documents with the European Bank for Reconstruction and Development (EBRD) in London to support investments in the field of renewable energy sources (RES) in Serbia, as reported by Beta.

The first signed document is an Agreement on non-repayable funds worth three million euros within the project “Renewable Energy Sources in District Heating Systems in Serbia.” The project is being implemented in collaboration with the EBRD, as well as with cities and municipalities across Serbia, with a total value of 40.5 million euros, including 10.5 million euros in non-repayable funds. The project aims to introduce renewable energy sources into the district heating sector in 10 local self-governments in Serbia, using solar collectors, heat pumps, and geothermal sources.

Đedović Handanović provided specific examples, such as replacing a coal-fired boiler with geothermal energy in Bogatić and using a heat pump that utilizes waste heat from the water supply in Novi Pazar. Additionally, in Kruševac, a heat pump will utilize waste heat from the wastewater treatment system for district heating.

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The second signed document, a Letter of Intent, outlines the continuation of collaboration between the Ministry of Mining and Energy and the EBRD in conducting auctions for awarding market premiums for renewable energy sources in the current year. The Minister emphasized the successful implementation of the first RES auctions in 2023, securing around 700 megawatts of new green energy capacity and investments exceeding one billion euros.

The ongoing collaboration with the EBRD aims to support the second round of auctions planned for the latter half of this year, where investors will compete for market premiums for a total of 400 megawatts. Đedović Handanović highlighted that these investments would contribute to the country’s energy transition, reducing greenhouse gas emissions and enhancing energy security.

The Director of the EBRD for Central and Southeast Europe, Charlotte Ruhe, expressed satisfaction with the signed Letter of Intent and EBRD’s support to the Ministry of Mining and Energy in preparing the upcoming auctions for solar and wind capacities.

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