Contract for planning and technical documentation
Serbia has started formal project-documentation work for the planned 1.8 GW Đerdap 3 pumped-storage plant, advancing one of Southeast Europe’s largest prospective storage projects toward engineering. The Serbian Energy Ministry signed a contract with the Jaroslav Černi Water Institute for planning and technical documentation. The work is targeted for completion by the end of 2029.
Planned capacity and investment scale
Đerdap 3 is envisaged with up to 1,800 MW of capacity and an indicative investment value of around €2.6 billion. The project has been discussed for decades, while the documentation contract represents a more concrete development step. Serbia’s current technical work is intended to move the scheme beyond a long-standing concept.
Regional talks and procurement steps
Serbia is also discussing the pumped-storage scheme with Romania due to its Danube location. Negotiations are under way with Bechtel, which submitted the sole valid U.S. expression of interest. The discussions reflect the cross-border relevance of the project’s river setting and the involvement of international stakeholders.
Role in balancing as renewables expand
The project’s relevance has increased as Serbia adds wind and solar generation. Pumped storage could absorb electricity during low-price or surplus periods and generate during evening scarcity. It would also provide balancing and reserves for the power system. Serbia has already experienced negative renewable-heavy prices as well as sharp regional price spikes, supporting demand for large-scale flexibility.
Financing constraints ahead of construction
Financing remains the main challenge for a project with an indicative value of around €2.6 billion. Such a scale would likely require long-term debt, strategic investors and potentially public support alongside market revenues. Construction is still years away, but the new technical documentation work is intended to bring Đerdap 3 closer to becoming a financeable infrastructure project rather than remaining at concept stage.
