In a recent meeting between representatives of the Serbian Ministry of Mining and Energy and the Japan International Cooperation Agency (JICA), it was announced that the Japanese government has approved a preparatory study for a potential loan to fund the construction of the Bistrica pump-storage hydropower plant. A final decision on the financing is expected in the second half of 2025.
Deputy Minister of Mining and Energy Jovana Joksimovic emphasized that the construction of HPP Bistrica is a key project within the “Leap into the Future – Serbia 2027” plan. This will mark the first new pump-storage hydropower plant to be built in over four decades, with a planned capacity of 656 MW. The facility will play a critical role in energy balancing and storage, facilitating the integration of renewable energy sources as Serbia transitions to a greener energy landscape.
Joksimovic expressed appreciation for JICA’s cooperation on the flue gas desulfurization project at TPP Nikola Tesla A, which was commissioned earlier this year. This project is considered the largest environmental initiative in the region.
In late 2021, Serbian President Aleksandar Vucic announced an investment of between €600 million and €700 million for the construction of HPP Bistrica. Located in the Lim river watershed near existing hydropower plants, it will feature four units with a combined installed capacity of 680 MW. The total estimated cost for the project is €1.2 billion.
President Vucic noted that the financing for Serbia’s second pump-storage HPP—following HPP Bajina Basta—is already secured. The new facility is crucial for stabilizing the output fluctuations from wind and solar energy sources, and he anticipates that by 2028, Serbia will generate enough electricity to become a net exporter.
