Serbia aims to achieve 3.5 GW of renewable energy capacity by 2030, expanding to 11 GW by 2040 and 18 GW by 2050, according to Rade Mrdak, an advisor at the Ministry of Mining and Energy. Speaking at the Kopaonik Business Forum, Mrdak emphasized that Serbia has created the conditions to develop 2.5 GW of renewable energy capacity over the past two years, making the 2030 target achievable.
A portion of this capacity will come from two auctions, enabling investors to develop wind farms and solar power plants with a total output of 1,200 MW. Additionally, state-owned power utility EPS is advancing its renewable portfolio, having signed an agreement with UGT and Hyundai for the construction of solar power plants with a combined capacity of 1 GW. EPS is also working on a wind farm and a solar plant in Kostolac.
Mrdak highlighted that prosumers currently contribute 90 MW to the grid, while 600 MW comes from feed-in tariffs. He estimated that Serbia is nearing 3,000 MW of installed capacity and, with the continued expansion of prosumers and the completion of the third round of auctions, will surpass the 3.5 GW target. Beyond 2040, development will shift towards pump-storage hydropower, with priority projects including Bistrica and Djerdap 3.
Milos Colic, CEO of New Energy Solution, noted that Serbia has improved conditions for renewable energy investors, particularly through premium-based auction mechanisms. His company participated in the first auction for the Pupin wind farm, successfully developing a 100 MW project within ten months.
Neda Lazendic, senior energy advisor at Hyundai Engineering, outlined plans for the 1 GW solar power projects being built in partnership with UGT for EPS. The first solar power plant is expected to be completed by 2028, with Hyundai involving both domestic and international designers, engineers, and contractors in the development.
