Serbia to Expand Green Energy with $3.5B from EPS
Serbia to introduce ten new green power plants.
It will add 3.5 gigawatts (GW) of new renewable energy capacity by the end of this decade.
EPS, an electric utility power company owned by the Government of Serbia, has announced its plans to scale up renewable energy capacity in the country with an investment of €3.5 billion in green energy by 2030.
The Executive Director for Investment and Development at EPS, Aleksandar Jakovljević, disclosed this, saying it shows the company's commitment to cleaner energy sources.
Of the total amount, €1 billion will be allocated to constructing new hydropower plants and reinvigorating the existing ones. The company has been involved in many other renewable energy projects, with the construction of the Kostolac wind farm and the Petka solar park nearing completion. Other projects include a large 1,000-megawatt (MW) battery-backed solar power plant and the building of the Bistrica Power Plant.
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The nation has committed to a long-term goal of reaching 11 gigawatts of green energy by 2040. To this end, the government is backing renewable energy expansion through a three-year auction plan aimed at developing 1,300 MW of green energy through private investments.
With a total investment of €782 million, the latest auction round has announced ten new green power plants. Initially, the quota for new capacity was 424.8 MW, but developers agreed to make it 645 MW, which is more than expected.
Serbia plans to add 3.5 gigawatts (GW) of renewable energy capacity by 2030, which is poised to generate half of the country's electricity demand from renewables.
Davor Pupovac, Director of the Market Analysis Sector at EPS, said: "The need to optimise day-ahead and intraday planning is evolving, and EPS has taken steps to enhance management in this operational area.”
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Source: Ceenergy News
