In order to implement the energy transition, Serbia wants to build solar power plants, wind farms, and pumped-storage hydropower plants, as well as gas-fired power plants, energy storage batteries, and hydrogen facilities. Coal-fired power stations would be phased out by 2050, but not before adequate renewable energy capacity is available to replace them. According to a document published by the Ministry of Mining and Energy, the plan calls for the construction of new power plants on state territory as well as the formation of a firm called Green Energy of Serbia.
Energy Security of Serbia is a document that lists short- and long-term solutions for all segments of the energy sector, with the purpose of attaining strategic goals such energy security, supply security, building energy efficiency, a just energy transition, and decarbonization by 2050.
Serbia views the energy transition and green development as a new industrial revolution and a new growth model that, according to the ministry, can only result in robust economic growth if it is driven by the collaboration of all stakeholders.
By 2040, the paper sets a goal of 49.6 percent renewable energy sources in gross final energy consumption, up from 26.3 percent at the end of 2020. The goal is to decarbonize the economy and attain climate neutrality by 2050.
The anticipated short-term steps include the renovation of the transmission and distribution systems, as well as the establishment of the business Green Energy of Serbia, which will be tasked with developing new green power plants to achieve energy security.
Given the limited natural, geographical, and transmission resources, the ministry recommends expanding the state’s interest in large renewable energy projects and “reserving” area for these capacity.
The ministry’s investment plan for energy and mining is worth EUR 35 billion, with EUR 21 billion set out for green power facilities such as hydropower plants, solar parks, and wind farms.
According to the ministry, public-private partnerships for the development of wind farms with a capacity of around 3,700 MW are possible. Solar power plants would be erected on a total of 8,300 hectares of neglected state-owned land, with floating solar power plants with a capacity of 650 MW also included in the plan.
Solar panels with a capacity of 11,000 MW can be put on rooftops, with an additional 1,400 MW on EPS-owned land.
Derdap 3 and Bistrica, two pumped-storage hydropower projects with a total capacity of around 2,500 MW, are proposed, while hydropower plants with a capacity of 300 MW could be built on the rivers Ibar and Morava.
Energy storage facilities, i.e. batteries, pumped-storage hydropower plants, and green hydrogen storage, are seen as a solution to the balancing concerns, according to the ministry.