The Serbian state-owned power utility, EPS, is set to embark on a significant investment initiative aimed at expanding its generation capacity and modernizing its energy mix. The company plans to allocate approximately 1.2 billion euros over the next three years to develop new renewable energy projects, as disclosed by company director Dušan Živković.
During the recent Kopaonik Business Forum, Živković emphasized that EPS’s robust financial performance in recent years has created a conducive environment for this ambitious investment program. The utility has reported strong results coupled with a substantial reduction in corporate debt, which has improved its capacity to finance large-scale projects without overburdening its balance sheet. Among the major initiatives being considered are the construction of the Bistrica pump-storage hydropower plant and the development of approximately 1 GW of solar capacity. Additionally, EPS is preparing to establish a gas-fired power plant in Niš, which is expected to enhance baseload generation and diversify the company’s energy sources.
Živković also highlighted several ongoing projects, including the modernization of the Vlasinske hydropower plants. The utility has successfully completed a comprehensive overhaul of the Bajina Bašta pump-storage facility, which has been in operation for over four decades.
In recent years, EPS has significantly increased its contribution to the national electricity system through various investments in Kostolac. This includes a new thermal power plant unit, a solar facility, and the company’s inaugural wind farm, collectively boosting available capacity by 426 MW, with 350 MW dedicated to baseload generation.
The leadership at EPS believes that expanding major generation assets is crucial for ensuring long-term energy security. Živković pointed out that countries with dependable baseload production are typically more technologically advanced and industrially developed, reinforcing the necessity for decisive investments in strategic energy infrastructure.
