A consortium led by Bechtel is the only applicant to qualify for the second stage of Serbia’s selection process for the proposed Đerdap 3 pumped-storage hydropower project.
A government-appointed evaluation committee reviewed six submissions from companies interested in participating in the development. The Bechtel consortium was the only candidate judged to have met all technical and administrative requirements set out in the public invitation.
Serbia launched the expression-of-interest process in early June, with applications due by 25 June 2026. Participants included Fresh Development with Serbia’s LDS, Bechtel UK Holdings International with Turkey’s ENKA, Voith Hydro, Channell Commercial Corporation, Moravacem and Global TBM Company, which operates under the Robbins brand.
The first stage was intended to test eligibility before a more detailed competitive procedure. The failure of five applicants to progress leaves Bechtel with a strong position in the next phase, although qualification does not by itself constitute a construction award or a final investment decision.
A separate procurement is under way for planning documents and part of the technical documentation required for the project. This work will be essential in defining the plant’s capacity, reservoir arrangement, environmental footprint, geological conditions, grid connection and construction cost.
Bechtel has been associated with Đerdap 3 for several years. In 2022, the US engineering and construction group indicated that it was prepared to finance a preliminary feasibility study.
The company is also active in infrastructure discussions elsewhere in the Western Balkans. It has been considered for Bosnia and Herzegovina’s Southern Gas Interconnection and signed an agreement with Albania’s Ministry of Infrastructure and Energy in 2020 concerning preparatory work for the proposed Skavica hydropower project.
Đerdap 3 could provide Serbia with large-scale flexibility for balancing wind and solar generation, managing evening demand and supporting cross-border electricity trading. Its bankability will depend on a realistic construction budget, hydrological design, environmental approval, market revenues and a clear division of risk between the state, EPS, contractors and financiers.
Proceeding with a single qualified consortium may accelerate negotiations, but it also places greater importance on independent cost benchmarking, open-book technical review and a robust contractual structure before Serbia commits to an exceptionally capital-intensive energy asset.
