Serbia’s Ministry of Mining and Energy has announced new investments in large-scale energy projects during the presentation of its €17.8bn programme "Leap into the Future – Serbia EXPO 2027”, a four-year investment plan to prepare the country for the international exhibition Belgrade Expo 2027 with the construction of projects in science and technology, energy and environment protection, among others.
In 2024, Serbia expects the connection of the 350 MW Kostolac thermal power plant, the first production plant that the Serbian state-owned utility Elektroprivreda Srbije (EPS) opens after almost four decades, and the construction of a flue gas desulphurisation (FGD) unit in TENT A (reducing sulphur dioxide emissions by about 10 times in Obrenovac). EPS is also building a wind park in Kostolac, expected to be commissioned in early 2025. New pumped-storage hydropower plants such as Bistrica or Djerdap 3 will also help balance the power system by 2030 at the earliest. Serbia is also in talks with Hyundai Engineering for the deployment of five solar power plants with a combined capacity of 1 GW coupled with at least 200 MW of energy storage; the projects would be built by a consortium composed by Hyundai Engineering, Hyundai ENG America and UGT Renewables by June 2028. Serbia is also building the Serbia-Hungary oil pipeline and a gas interconnection toward North Macedonia. A decision on the development of lithium mines around Loznica and Bajina Basta should be adopted by the new government.
Serbia targets a minimum share of 49.6% of renewables in final energy consumption by 2040 and considers phasing out thermal power plants to reach carbon neutrality in 2050. At the end of 2021, Serbia’s installed capacity stood at 7.7 GW distributed between lignite (3.9 GW), hydropower (3 GW), wind (398 MW), and oil and gas plants (less than 300 MW).
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