Serbian power utility EPS plans to reach 7 GW of renewable capacity by 2038

24 Jan 2023

Serbia’s state-owned power utility Elektroprivreda Srbije (EPS) plans to instal 4 GW of new renewable capacity over the next 15 years, to reach 7 GW in 2038. The development and construction of this new renewable capacity is expected to require an investment of around €4.8bn. EPS’ renewable projects will include the construction of new hydro capacities, as well as wind and solar power plants, including the 628 MW PSHPP Bistrica hybrid power plant, which could be completed by 2031. EPS is developing the 250 MW Klenovnik solar power plant near Kostolac and two 500 MW wind parks are planned in the same region (at Stiško Polje) for a total investment of €1.5bn.

With the implementation of these projects, the share of renewable in EPS’ total installed capacity would increase from nearly 37% to about 63% by 2038. As well, EPS’ renewable generation would increase from the current 10 TWh to 16.5 TWh in 2038, which would raise the share of renewables in the group's power generation from the current 30% to almost 50% by 2038.

As of end-2020, Serbia had an installed capacity of nearly 8 GW with 38% of hydro (3 GW) and 53% of coal and lignite-fired capacity (4.2 GW). Coal and lignite represented 70% of Serbia’s power generation in 2020 with 26.5 TWh while hydro represented 26% with 9.7 TWh.

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