The progress of the Bistrica pump-storage hydropower plant project was the central topic at a meeting between the management of the state-owned power utility EPS and representatives from Japan’s Mitsubishi Corporation. Shunichi Komoriya, Deputy General Manager of Mitsubishi Corporation’s Istanbul branch, emphasized that the company and its partners are prepared to offer advanced technology for this key energy project.
The Japan International Cooperation Agency (JICA) is currently conducting a project assessment and reviewing the technical documentation, a vital step in securing the required financing for the project.
EPS General Manager Dušan Živković highlighted the importance of sticking to the established timeline to ensure the project progresses as planned. The Serbian government previously announced that preparatory work for the Bistrica hydropower plant is expected to begin in 2026.
In late 2021, Serbian President Aleksandar Vučić revealed that Serbia would invest between 600 and 700 million euros into constructing the Bistrica pump-storage hydropower plant. Located in the Lim River watershed, near the existing HPPs Uvac, Bistrica, and Potpec, the plant will feature four units with a combined installed capacity of 680 MW. The latest estimates suggest the project will cost around 1.2 billion euros. President Vučić confirmed that the financing for the construction of Serbia’s second pump-storage HPP (after HPP Bajina Bašta) has already been secured. This new facility is crucial for balancing the variable output from wind and solar power plants. Vučić expects that by 2028, Serbia will generate enough electricity to become a net exporter.
In September, the Government of Japan approved the initiation of a preparatory study for a potential JICA loan to fund the HPP Bistrica construction, with a final decision on financing expected in the second half of 2025.
