During recent years the Serbian government has signed a series of agreements with the Italian government and Seci Energia S.p.A. agreeing to jointly develop HPPs on the Drina and Ibar rivers, with the Italian side committing to buy the electricity for EUR 155 per MWh, one of the highest tariffs in Europe according to the Serbian Ministry of Infrastructure and Energy.
It is not clear why Italy has agreed to pay so much. An agreement was also signed in 2009 on ensuring certificates of origin of the generated energy in order to be eligible to be considered renewable energy in the EU.
Ten hydroelectric plants are planned on the River Ibar (cost EUR 270, 84.2-103 MW installed capacity, 418 GWh annually), along with one of 140 MW on the River Sava at Kupinovo, 500 MW of wind power and an unspecified amount of small hydro and other renewables in unspecified locations, with investors to be determined through
