Serbia has reached an agreement with the Japan International Cooperation Agency (JICA) on the main elements of a financing package for the planned 650 MW Bistrica pumped-storage hydropower plant, Energy Minister Dubravka Đedović said. The minister stated that key issues have been resolved regarding both the structure and size of the financing package. Both sides also agreed on the contracting model for construction works.
Next phases of project preparation have also been agreed, including development of tender documentation. The process includes procedures required to secure approval of the Japanese loan. A JICA mission is expected to visit Serbia in March 2027 as part of the final evaluation ahead of signing the financing agreement.
JICA mission timeline and technical support
Japanese experts are expected to continue supporting preparations through additional technical visits in the coming period. Engineering design work and technical documentation are currently being prepared. Construction of supporting infrastructure is expected to begin soon.
Authorities anticipate that the main construction permit for the project will be issued in the first months of 2027. The project location is planned near Nova Varoš in southwestern Serbia. The pumped-storage facility will include two reservoirs connected by underground tunnels and generating equipment.
Bistrica plant configuration and system role
During periods of low electricity demand, water will be pumped to the upper reservoir for storage. During peak demand, water will be released to generate electricity. With an installed capacity of 650 MW, the project is intended to support balancing in Serbia’s power system as renewable energy shares increase.
