Serbia’s vision for the energy future – 40 % of electricity production from RES by 2040

, News Serbia Energy

The vision of Serbia is to have at least 40 % of electricity produced from renewable sources by 2040. Serbian Minister of Energy Zorana Mihajlovic and the manager of the Renewable Energy Sources Association Danijela Isailovic signed the Agreement on Cooperation between the Ministryand the Association, sending a clear message that Serbia would work more on energy production from RES.

Minister Mihajlovic reminded that, recently, the Serbian parliament had adopted new laws on renewable energy sources and energy efficiency and amendments to the laws on mining and energy, which represent the basis for further development and energy transition of Serbia. She stressed the importance of such modern laws that will enable Serbia to develop faster on the path of green transition. This agreement also means an invitation to investors to come and invest in Serbia, because there is a lot of potential, and the Government has made all procedures efficient and fast and to get good prices and new gas, biomass, wind and solar power plants through competition. So far, the most has been invested in wind farms, but there is no reason not to get more energy from solar power plants and other renewable sources.

The Renewable Energy Sources Association was established on 1 March in cooperation with the European Bank for Reconstruction and Development (EBRD). The association was founded with the aim of contributing to the improvement of the business environment in the field of renewable energy, the transition from fossil fuels to renewable energy sources, raising awareness of the importance of renewable energy and environmental protection, the decarbonization of Serbia and the global fight against climate change. The founders are licensed RES producers of electricity, which have built wind farms in Serbia with over 300 MW of total installed capacity and the investments exceeding 600 million euros: Vetroelektrane Balkana (wind farm Cibuk 1), Electrawinds K-Wind (wind farm Kovacica) and Electrawinds-S (wind farm Alibunar).