Serbia, EPS plans to invest 4.8 billion euros in renewable energy projects by 2038

, News Serbia Energy

Acting Director of Serbian state-owned power utility EPS Miroslav Tomasevic said that, according to current estimates, the share of renewable sources in the production portfolio of EPS could increase in the next 15 years from current 3,000 MW to more than 7,000 MW by 2038.

Tomasevic said that the realization of the planned investments, worth about 4.8 billion euros, would strengthen the company’s RES portfolio with additional 4,000 MW. The share of RES in the total installed capacity would increase from 36.9 % to around 63 % by 2038. He said that investments in the development of RES capacity and strengthening the green portfolio are a sure way for EPS to remain one of the strongest energy players in the Western Balkans.

Coal-based electricity generation is the reality and the present of Serbian energy sector, but on the path of decarbonization and energy transition the country is turning towards RES. This is the only way for energy to be the main pillar of Serbia’s economic development in the coming decades, according to EPS.

With the dynamics of the realization of these investment projects, the production of electricity from RES would be increased from the current 10 TWh to 16.5 GWh in 2038, which would increase the current 30 % of RES in total electricity generation to almost 50 %.

According to Tomasevic, the largest jump in the share of RES is planned in the next seven to eight years, and the continuous development and implementation of projects will continue from 2031 to 2038.

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