January 7, 2026
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Đedović Handanović: Construction of 1 GW solar project to start in 2026

The start of construction of solar power plants in a project for a total capacity of 1 GW is expected in 2026, Minister of Mining and Energy of Serbia Dubravka Đedović Handanović said.

State-owned power utility Elektroprivreda Srbije (EPS) announced that its shareholders’ assembly adopted the Three-Year Business Plan for the period 2026-2028.

Dubravka Đedović Handanović pointed out that the company had good production and financial results for three consecutive years. According to the adopted three-year business plan, this trend will continue in 2026, she added.

EPS will invest EUR 1 billion in 2026

The minister recalled that in 2025 EPS built its first wind farm – Kostolac, and the Petka solar power plant, with a combined capacity of 76 MW. The company also finished the construction of the desulfurization facility at its coal-fired power plant Nikola Tesla B (TENT B), allowing the reduction of sulfur dioxide (SO2) emissions by 20 to 40 times, she added.

“Investments this year have also been at a high level, 97% in fact, considering that due to the scope and complexity of preparatory activities, the start of materialization of the project for the construction of solar power plants of 1 GW is expected in 2026. The focus of investments of around EUR 1 billion in 2026 will be on maintenance and improvement of the reliability of the power system and, primarily, on increasing the share of renewable energy sources in EPS’s energy mix,” Đedović Handanović stressed.

The company will build new solar power plants as well

The largest portion of the investments, in her words, is planned for new renewable energy plants, such as the construction of solar power plants totaling GW and pumped storage hydropower plant Bistrica, as well as the development of a larger number of solar power plants on land owned by EPS.

Of note, the company is developing the 1 GW solar project, which includes batteries, in collaboration with a consortium comprising Hyundai Engineering and UGT Renewables.

EPS yesterday invited bids for a preliminary feasibility study and conceptual design for a solar power plant on the ash disposal site of TENT A.

The minister revealed that next year’s plan includes an increase in employees’ salaries.

The company will continue its transformation activities, she added. Đedović Handanović welcomed the fact that EPS didn’t take out liquidity loans this year.

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January 6, 2026
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Đedović Handanović: Construction of 1 GW solar project to start in 2026

The start of construction of solar power plants in a project for a total capacity of 1 GW is expected in 2026, Minister of Mining and Energy of Serbia Dubravka Đedović Handanović said.

State-owned power utility Elektroprivreda Srbije (EPS) announced that its shareholders’ assembly adopted the Three-Year Business Plan for the period 2026-2028.

Dubravka Đedović Handanović pointed out that the company had good production and financial results for three consecutive years. According to the adopted three-year business plan, this trend will continue in 2026, she added.

EPS will invest EUR 1 billion in 2026

The minister recalled that in 2025 EPS built its first wind farm – Kostolac, and the Petka solar power plant, with a combined capacity of 76 MW. The company also finished the construction of the desulfurization facility at its coal-fired power plant Nikola Tesla B (TENT B), allowing the reduction of sulfur dioxide (SO2) emissions by 20 to 40 times, she added.

“Investments this year have also been at a high level, 97% in fact, considering that due to the scope and complexity of preparatory activities, the start of materialization of the project for the construction of solar power plants of 1 GW is expected in 2026. The focus of investments of around EUR 1 billion in 2026 will be on maintenance and improvement of the reliability of the power system and, primarily, on increasing the share of renewable energy sources in EPS’s energy mix,” Đedović Handanović stressed.

The company will build new solar power plants as well

The largest portion of the investments, in her words, is planned for new renewable energy plants, such as the construction of solar power plants totaling GW and pumped storage hydropower plant Bistrica, as well as the development of a larger number of solar power plants on land owned by EPS.

Of note, the company is developing the 1 GW solar project, which includes batteries, in collaboration with a consortium comprising Hyundai Engineering and UGT Renewables.

EPS yesterday invited bids for a preliminary feasibility study and conceptual design for a solar power plant on the ash disposal site of TENT A.

The minister revealed that next year’s plan includes an increase in employees’ salaries.

The company will continue its transformation activities, she added. Đedović Handanović welcomed the fact that EPS didn’t take out liquidity loans this year.

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May 27, 2025
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Decarbonization of Southeastern European region: both renewables and nuclear are speeding up

Energy transition in Southeastern Europe is accelerating, and the progress depends on individual countries’ strategies and legal frameworks. At the Belgrade Energy Forum (BEF 2025), representatives of state-owned power utilities and private producers discussed the different approaches to decarbonization. The domination of investments in renewable energy is unquestionable, but there are also ambitions to develop nuclear capacities, spearheaded by Slovenia. The country is already operating one nuclear reactor and is developing a project for another one.

The electricity sector in Southeast Europe still depends for a large part on thermal power plants that burn fossil fuels. In 2023, they accounted for 43% of overall output, of which two-thirds were from lignite and the rest from gas. There is a need for accelerated decarbonization, and the speed of the transition will depend on financial possibilities and the political will and decisions, said the panel’s moderator and Director of Zagreb-based Energy Institute Hrvoje Požar Dražen Jakšić.

The acceleration trend in decarbonization is also evident in the electricity market projections for the region until 2030. The plans for the period until the end of the decade include shutting down 6.2 GW of thermal power plant capacity and installing 42.3 GW from renewable sources. Greece, Romania, Serbia and Bulgaria are expected to add the most.

Top executives of state-owned utilities in Serbia, Slovenia and Montenegro and independent power producers that invest in renewables in the region gathered at a panel called Decarbonisation strategies for power generation in Southeast Europe 2040/2050 at Belgrade Energy Forum 2025.

They agreed that decarbonization is well underway and an unstoppable process already speeding up significantly. The participants in the discussion presented the different strategies their companies will act upon in the following years and decades, leading the process to fulfilment.

Among the messages that they shared is that they expect each government to promote investments and make the legal framework clear and certain, while the countries strengthen their ties and exchange experiences. Green energy is the pillar of the energy transition and decarbonization in the region, but several states are also interested in building their first nuclear power plants—conventional ones or small modular reactors (SMRs)—or expanding the existing capacity.

EPS’s Živković: Decarbonization requires energy storage, nuclear plants

Chief Executive Officer of Serbia’s Elektroprivreda Srbije (EPS) Dušan Živković pointed out that the state-controlled electricity producer is committed to its goals regarding green energy and emission reductions as well as to the country’s targets. “We will work on that, of course, believing in these objectives, but without compromising energy security and the energy sovereignty of Serbia. It was proven to be the only sustainable path,” he asserted.

The company particularly counts on the project for solar power plants with a total connection capacity of 1 GW, with batteries of 200 MW in combined capability. The investment is conducted through a strategic partnership with Hyundai Engineering and UGT Renewables (UGTR).

A study is underway in Serbia on the potential for the construction of large nuclear power plants and small modular reactors

The decarbonization process won’t be easily feasible without serious energy storage capacity, Živković warned and added that nuclear energy wouldn’t be unrealistic. A study is underway on the possibilities of building large nuclear plants and small modular reactors in Serbia.

The head of EPS expressed the belief that “the quality of that energy needs to be visualized” for citizens of every country and that they should be explained that it is necessary to provide energy for the economy and its security.

CEOs Dejan Paravan of GEN energija, Dušan Živković of EPS and Eric Scotto of Akuo

No dilemma in Serbia about energy transition

Country Manager of WV-International in Serbia Neda Lazendić highlighted the said strategic partnership for solar power plants with battery energy storage systems (BESS), saying Hyundai Engineering is a world-renowned company.

In her view, the endeavor will be a milestone for the entire region and it is exceptionally important for gaining experience at the domestic level.

The recent second round of auctions for electricity from renewable sources showed that Serbia opted for the energy transition “and there is not any dilemma about it anymore,” Lazendić stressed and said the country is an example for the region. The prices from the bidding that were accepted are appealing and they match European trends, she noted.

Country Manager of WV-International Neda Lazendić

Lignite is highly unprofitable

Slovenia and GEN energija, one of the state-owned power utilities, are relying on both renewable sources and nuclear energy in their decarbonization investments, the company’s CEO Dejan Paravan pointed out.

“We want to get rid of coal as soon as possible. And in the short term, renewables are the only option. Why get rid of coal? The current production of domestic lignite is highly unprofitable, and because of climate goals,” he explained.

Nevertheless, it is exceptionally complicated to get permits for renewables and place them in the environment, Paravan added. On the other hand, nuclear energy is emissions-free and very stable and reliable, he asserted. The technology takes up the least space and enables the production of huge amounts of electricity, the head of GEN energija said.

Nuclear power plant Krško 2 could come online in 2040

Paravan recalled that two years ago nuclear power plant Krško marked four decades since it was commissioned and that its operating life was extended by 20 years. GEN energija is working on the Krško 2 project. The chief executive expects construction to begin in 2022 or 2023 and that the reactor could be connected to the grid in 2040.

In parallel, the company is studying SMRs. Still, the development of the technology will take a long time and, importantly, such facilities won’t have the advantage of scale like large reactors, he said. One who expects electricity from SMRs to be cheaper than from big nuclear plants is wrong, in Paravan’s view.

As for the dilemma between renewable sources and nuclear energy, he expressed the belief that they are not mutually exclusive. “We need renewables and they can provide us a lot of CO2-free electricity in the short run. But let’s make it clear that once we come to 70%, 80%, 90% based on renewables, that we have a problem of seasonal storage, that things will get very difficult,” Paravan stated.

Batteries are ten times cheaper than ten years ago

Conversely, Akuo Energy’s CEO Eric Scotto pointed out that nuclear power is expensive. “It’s over. We won the race. Renewable is the cheapest way to produce energy,” he underscored.

The price of energy storage capacity is ten times lower than ten years ago, the head of the French company noted. Moreover, operating power of a battery system in a standard TEU container, twenty feet or 6.1 meters long, now reaches 6 MW, which is three times more than three years ago, according to Scotto.

To attract investments, stability is necessary, he stressed. Scotto went on to highlight some “simple things” that could help Akuo, which was one of the winners at the last auction round in Serbia, to materialize its projects for two wind parks. He mentioned the speed of permitting for telecommunication systems and road construction, for power plants.

Turning to the slowness of the energy transition in Balkan countries, he emphasized its positive side. “We are late. Then we will benefit from the cheapest resource, the cheapest way to produce energy,” Scotto concluded.

EPCG’s Solari project kicked off energy transition in Montenegro

Technical Director of Elektroprivreda Crne Gore (EPCG) Ljubiša Đurković called the state-owned power utility’s projects Solari 3000+ and Solari 500+ the start of the energy transition in Montenegro. Since the beginning of 2023 and including Solari 5000+, launched later, the company set up photovoltaic systems on 7,380 structures, he revealed.

Total peak capacity reached 76 MW and another 125 MW will be installed by the end of the year, EPCG’s official said.

Among its projects, the company is building the Gvozd wind farm, and the Kapino polje solar park near Nikšić.

Technical Director of EPCG Ljubiša Đurković

There is already 10 MW on roofs in the former Željezara steel plant in Nikšić, and before the end of the year another 15.5 MW will be connected to the grid, Đurković said. A contract has been signed for the construction of the eighth generator in the Perućica hydropower plant, of 58 MW. It is scheduled for completion in 2027.

Đurković: A realistic date for the closure of the Pljevlja thermal power plant is between 2045 and 2050

The energy transition is about a single and connected system, including storage capacities and measures to improve energy efficiency, he underscored. “You have to create the conditions for a swift integration of renewable energy sources into the distribution and transmission networks. We were supposed to do that already. We didn’t do it, particularly in the Western Balkans. We didn’t reconstruct the distribution and transmission networks,” he stated.

As for the current reconstruction of the coal-fired Pljevlja thermal power plant, the only one in Montenegro, Đurković said the project wouldn’t make sense if the facility were to keep operating only for a short while longer.

žAccording to the National Energy and Climate Plan (NECP), which is almost complete, it will remain active at least until 2041, although the realistic date for its closure is only between 2045 and 2050, in the opinion of EPCG’s technical director. The main phase of the reconstruction began at the end of March.

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May 16, 2025
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Consortium completing spatial plan for solar-BESS strategic partnership in Serbia

Representatives of Hyundai Engineering and UGT Renewables, the companies developing a solar power project in Serbia of 1.2 GW in total, and with batteries, said the strategic partnership is a step toward expansion in the surrounding region. Spatial planning is nearly complete.

Following the signing of grid connection contracts last week, the Hyundai Engineering – UGT Renewables consortium is advancing the design and permitting procedures within its strategic partnership in Serbia.

The two companies are tasked with building a group of photovoltaic plants of 1.2 GW in total peak capacity and connections of 1 GW overall, alongside battery energy storage systems (BESS) with a combined 200 MW in operational power and a maximum 400 MWh in capacity.

Group of hybrid power plants to be transferred to EPS

In a keynote speech at Belgrade Energy Forum – BEF 2025, Vice President of Hyundai Engineering Seung-Won Lee revealed that the consortium is finalizing the special plans for special purpose areas. The facilities will be handed over to Serbia’s state-owned power utility Elektroprivreda Srbije (EPS), he noted.

The representative of the South Korea–based company added that the PV plants would generate 1.5 TWh per year and offset more than one million tons of carbon dioxide emissions. It is one of the largest renewable energy projects in Europe and a cornerstone for Hyundai Engineering, Lee pointed out.

UGT Renewables has project pipeline of 20 GW

Global Executive Advisor of UGT Renewables Chan-Woo Park said it is the largest renewable energy developer, internationally, in the United States. Its portfolio of companies is operating on four continents, he added. The regions include Southern Africa, the Middle East and Latin America, Park underscored.

The solar power and energy infrastructure projects under development account for 20 GW, UGT’s representative asserted.

 

It has established partnerships worth over USD 30 billion altogether, with Hyundai Engineering and other companies including Nextracker, Shoals Technologies, Hitachi Energy and Tesla Energy, Park stressed.

According to the update, the strategic partnership in Serbia is the beginning of the consortium’s regional expansion in the surrounding region.

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May 13, 2025
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Everything is ready for Belgrade Energy Forum 2025 – welcome!

Everything is ready for the third Belgrade Energy Forum – BEF 2025. On May 14 and 15, the conference will gather four hundred participants from more then 30 countries from the region, Europe, and beyond.

Participants of the Belgrade Energy Forum 2025 (BEF 2025) will have the opportunity to hear from speakers from the European Union and five countries in the region and exchange views. Eight panels featuring more than 50 officials, executives and prominent energy experts will try to untangle the currently most important issues in the energy sector.

Representatives of governments, regulatory agencies, regional and international institutions and organizations as well as the business community will outline their future moves, which is invaluable information given the new reality of a turbulent geopolitical landscape.

Latest information on the largest project for the installation of solar power plants in the region and beyond

Energy Community Secretariat Director Artur Lorkowski and Serbian Minister of Mining and Energy Dubravka Đedović Handanović will open the event. One of the key speakers is Christian Zinglersen, director of the EU Agency for the Cooperation of Energy Regulators (ACER).

The ministerial panel consists of ministers and other officials from Montenegro, Croatia, Hungary, Serbia, and the Republic of Srpska, which is one of the two entities making up Bosnia and Herzegovina.

Representatives of the Hyundai Engineering – UGT Renewables consortium will summarize the next steps in the largest solar power project in the region and beyond. The consortium is the diamond sponsor of the event this year as well.

It entails solar power plants with a total connected power of 1,000 MW, and battery energy storage systems (BESS) of 200 MW in overall capability and 400 MWh in capacity.

It is a joint project with Serbian state-owned power utility Elektroprivreda Srbije. The partners took another important step this week by signing a grid connection contract with the country’s transmission system operator Elektromreža Srbije.

Hitachi’s cutting-edge technological solutions are indispensable in Southeast Europe

Keynote speakers Seung-Won Lee, Vice President of Hyundai Engineering, and Chan Wo Park, Global Executive Advisor at UGT Renewables, will present the project.

Hitachi Energy‘s cutting-edge technological solutions are indispensable in Southeast Europe. Some examples of its contribution to the energy transition of the region are the largest solar power plant in the Balkans – Apriltsi in Bulgaria, of 250 MW, as well as the second wind farm in North Macedonia – Bogoslovec, with a capacity of 36 MW.

Together with the Association of Serbian Energy Intensive Industry, Hitachi Energy is in the group of silver sponsors of BEF 2025.

The association was founded by Metalfer Group, Elixir Group, Lafarge Serbia, Moravacem (part of CRH) and TITAN Cementara Kosjerić. They are producers of steel, fertilizers and cement driven by a vision of sustainable development, industrial innovation and regulatory clarity.

Zečević: Decarbonization must be shaped by strategy, not imposed by circumstance

BEF 2025 will be attended by the association’s manager Stanislava Simić, Metalfer Group president, Branko Zečević and Lafarge Serbia CEO Dimitrije Knjeginjić.

“As Europe enforces carbon accountability through CBAM, Serbia and the Western Balkans must not remain a regulatory blind spot. Without our own regionally adapted carbon border policy, we risk being overwhelmed by carbon-intensive imports, eroding both our industry and climate goals,” Zečević stressed.

The association calls for a regional, synchronized approach – one that levels the playing field, accelerates innovation, and positions the Western Balkans as a credible partner in Europe’s green transition, he added. Decarbonization must be shaped by strategy, not imposed by circumstance, according to Zečević.

Batteries are the stars of BEF 2025

The panel ‘Energy storage system market in SEE: trends and forecasts’ has attracted great interest.

One of the panelists is Ioanna Barouni, Research Associate in Aurora Energy Research, a reliable energy market analyst and a knowledge partner of the forum. The company’s analysis unveils answers to questions that everybody asks – politicians, investors and regulators alike. For instance, one burning issue is the effect of cannibalization in solar power on wholesale power prices.

Aurora recently presented its first forecast for the Western Balkans, based on investment activity. The firm now provides forecasting services for Albania, Kosovo*, North Macedonia, Montenegro, and Bosnia and Herzegovina.

Cerović: BEF is a key event bringing together industry experts

Financing battery energy storage systems is a job banks such as UniCredit Bank Serbia, a bronze sponsor of the conference.

“I’m delighted to once again represent UniCredit Bank Serbia, in BEF, a key event that brings together industry experts and leaders in the energy transition in Southeast Europe. As the global market moves towards decarbonization and greater use of renewable sources, the role of energy storage systems becomes increasingly important,” said Svetlana Cerović, Head of Specialized Lending at UniCredit Bank Serbia.

She is also last year’s winner of the Female Leader in Sustainable Energy award.

Fortis brings its vast experience in investments in energy storage

Fortis is bringing its vast experience in investments in energy storage. In February, the firm inked a deal for batteries for North Macedonia’s largest PV plant, Oslomej, while a 36 MWh battery in Serbia is in the pipeline. Fortis has also signed a framework agreement with PowerChina on joint investments in renewable energy projects.

Nikola Oklobdžija, CEO of Fortis Energy for Eastern Europe, will present the company’s vision.

Renewable Energy Insurance Broker, a bronze sponsor, was one of the key factors for the largest photovoltaic plant in Romania. It provided insurance packages for every phase of development of the 155 MW Rătești facility. REIB is a specialized insurance intermediary focused exclusively on the renewable energy sector.

Tailored insurance solutions improve project bankability and long-term security, according to the firm.

Four companies are exhibitors

BEF 2025 has an exhibition segment, too. One of the companies showcasing its activities is ScadaWatt, which develops smart and reliable solutions for power plants. The company provides remote monitoring, real-time control, and AI-powered analytics to improve efficiency and reduce losses.

SciEngineer and Zarja Elektronika will also present their services and solutions. SciEngineer is the exclusive representative of MathWorks, COMSOL, and Speedgoat in Central and Eastern Europe. Their solutions reduce development time, cut costs, improve reliability, and accelerate time-to-market.

Zarja Elektronika is a leading Slovenian company specializing in advanced fire detection and alarm systems. With over 40 years of experience, it provides innovative, reliable, and tailor-made safety solutions for industrial, commercial, and residential environments.

DRI and YEO are friends of the conference

The Chinese company SANY Renewable Energy, which owns the Alibunar 1 and Alibunar 2 wind farms, will also have an exhibition stand.

DRI and YEO are joining the group of the friends of the conference. DRI is an Amsterdam-headquartered renewables developer and a subsidiary of the DTEK Group, one of the biggest private investors in Ukraine’s energy sector.

Joffroy Beckers, Head of PPA, will speak at a panel dedicated to the topic.

In January, DRI said it planned to start building the 120 MW Ljubovo wind power plant in Croatia in 2027. It revealed it right after it completed a 60 MW solar power plant in Romania.

Turkey-based YEO is active in more than 30 countries, delivering turnkey solutions in energy and industrial systems. In the Balkans, in addition to its energy expertise role, the company invests in renewable energy projects.

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* This designation is without prejudice to positions onstatus and is in line with UNSCR 1244/99 and the ICJ Opinion on the Kosovo declaration of independence.
May 12, 2025
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Serbia’s EPS signs PPAs for wind parks Alibunar 1, Alibunar 2

Serbian state-owned power utility Elektroprivreda Srbije will offtake electricity from future wind parks Alibunar 1 and Alibunar 2, of 168 MW in combined capacity. EPS’s Chief Executive Officer Dušan Živković and Project Director of WV-International in Serbia Lazar Lazendić signed today the power purchase agreements (PPAs) and the contracts for difference (CfD) and balancing responsibility.

Wind power projects Alibunar 1 (96.6 MW) and Alibunar 2 (71.4 MW) are among the winners from the latest round of auctions for market premiums for renewable energy in Serbia.

CEO of state-owned power utility Elektroprivreda Srbije (EPS) Dušan Živković signed the power purchase agreements (PPAs) and the contracts for difference (CfD) and balancing responsibility for the two planned facilities with Project Director of WV-International in Serbia Lazar Lazendić.

“EPS is committed to investing in the construction of power plants running on renewable sources, and this way we are strengthening our production portfolio and market position, and we actively support all investors in renewable energy sources. EPS will offtake all the generated electricity, the energy remains in Serbia, and the purchase and balancing price is set according to market principles, which incentivizes investors and enables additional profit for EPS. This energy will also give a substantial, additional security to the operations of our electricity system and to supplying citizens and companies,” Živković asserted.

Commitment to domestic market solidified

At the signing ceremony, Lazar Lazendić pointed out that the said success in auctions represents the materialization of important objectives in the development of the projects Alibunar 1 and Alibunar 2.

“Today’s signing of the contract with Elektroprivreda Srbije, encompassing market premiums, the purchase of electricity, and balance responsibility for our future wind farms solidifies our strong commitment to this market and plays a crucial role in driving Serbia’s energy transition forward,” he added.

Alibunar 1 and Alibunar 2 are SANY Renewable Energy’s first investment in Serbia

The special purpose vehicles, SPVs, or project firms for the two facilities are called Windvision Windfarm A and Windvision Windfarm B, respectively. They are majority owned by SANY Renewable Energy.

“The Alibunar 1 and Alibunar 2 wind farm projects are crucial for our company. SANY Renewable Energy is entering the Serbian market and the Western Balkans region through these projects. This will be the first installation of our wind turbines in these wind farms, serving as a model for our future expansion. We are eager to collaborate with local stakeholders and partners to enhance the country’s energy security,” said Zhou Fugui, Chairman of SANY Renewable Energy and member of the Board and Executive President of SANY Group.

WV-International is the gold sponsor of the Belgrade Energy Forum – BEF 2025, which will be held on May 14 and 15 in Serbia’s capital city, and SANY Renewable Energy is an exhibitor.

Živković: EPS obtained additional 2.6 GW from renewable sources

Živković also said that in the two rounds of auctions facilitated 850 MW of wind and solar power capacity and that, with investors that participated in the two rounds of auctions and other independent producers in Serbia, it already has an additional 2.6 GW from renewable energy sources.

The level will increase by 1 GW in 2028 from the self-balancing solar power plants that the company is developing with its strategic partner, the consortium of UGT Renewables and Hyundai Engineering, he added. “That’s when we expect the production from renewable energy sources to reach 50% of the total electricity production,” the head of EPS underscored.

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May 11, 2025
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Serbia’s TSO EMS signs grid connection contracts for 11 renewable power plants

Serbia’s transmission system operator Elektromreža Srbije signed grid connection contracts today for 11 renewable power plants.

TSO Elektromreža Srbije (EMS) noted that the contracts were signed after the second interval for the preparation of studies for the connection of power plants to the transmission grid. The total capacity of the facilities within the new deals is 2,052 MW, the company added.

They include four self-balancing solar power plants that state-owned power utility Elektroprivreda Srbije (EPS) is developing with the consortium Hyundai Engineering – UGT Renewables under a strategic partnership. The contracts were signed by EMS CEO Jelena Matejić and EPS CEO Dušan Živković.

The grid connection contracts were signed for Salaš and Sikole (490 MW in combined capacity), Jablanica (421.5 MW), Bački Gračac (65.9 MW) and Srpska Kuća (27 MW). Their total approved connection capacity is 1,004.4 MW.

Two projects with grid connection contracts are for hybrid power plants

Five other projects on the list are also for photovoltaic plants: East One (49.5 MW), South Two (44 MW), Erdevik (74 MW), Solar Knjaževac (136 MW) and Palić (110 MW). Two are for energy parks – hybrid power plants combining wind and solar energy – Vida Power with 150 MW and Equinox with 277 MW.

Projects East One and South Two are developed by Hive Energy, Erdevik by Fortis and Solar Knjaževac by Central Europe Energy Company, owned by China’s GCL. CWP Europe is in charge for two hybrid power plants.

Of note, in October 2024, the Government of Serbia launched the strategic partnership with the consortium Hyundai Engineering – UGT Renewables, which was selected at a tender for the investment. It envisages solar power plants with a total connected power of 1,000 MW, or 1,200 MW in nominal terms, and battery energy storage systems (BESS) of 200 MW in overall capability and 400 MWh in capacity.

UGT Renewables CEO Adam Cortese told Balkan Green Energy News that the consortium’s strategic partnership with Serbia for the six photovoltaic facilities is worth EUR 1.6 billion.

Minister of Mining and Energy Dubravka Đedović Handanović said in January that the first works on the project are expected by early 2026.

EMS has two intervals per year for the preparation of grid connection studies

Every year EMS organizes two intervals for grid connection studies: from March 1 to June 30 and from September 1 to December 31. After the contract for the grid connection study is signed and the study is completed, investors must submit bank guarantees to sign the grid connection contract.

The grid connection contract that has been signed now is part of the interval initiated on September 1, 2024.  The contracts for the grid connection studies have been signed for 22 projects, and grid connection contracts have been signed for 11.

In the next interval that started on March 1, 2025, EMS has received eight applications, including two for batteries, the first such projects in Serbia.

In July of last year, EMS announced that September 1 would mark the start of the new interval for the preparation of studies for the connection of power plants and other facilities to the transmission grid.

In the previous interval, bank guarantees for solar, wind and hydropower projects and substations, within the transmission system in Serbia, were provided for 28 facilities with an overall capacity of 4,000 MW, according to EMS.

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April 14, 2025
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Belgrade Energy Forum 2025 – 50 speakers at eight panels to track pace of SEE energy transition

The agenda of the third Belgrade Energy Forum, taking place on May 14-15, has been finalized with the addition of further prominent energy experts and companies. The conference, organized by Southeast Europe’s leading energy news portal, Balkan Green Energy News, will feature eight panels covering key topics in the energy sector, with an impressive lineup of speakers. Make sure you register on time via this link.

The Belgrade Energy Forum will once again be a meeting place for representatives of regional and international institutions and organizations, as well as the business community from across the region, Europe, and the world.

Eight panels featuring more than 50 speakers will offer an overview of the current challenges in the energy sector. Conference participants will hear in-depth analyses of the current situation, but also projections for the future. The thread that connects everything at this year’s BEF is digitalization – it permeates energy production, consumption, and storage and allows enough flexibility for the stable functioning of the energy systems of the future, where renewable energy will dominate.

Chikán: Electricity knows no borders

One of the key speakers at the conference, Alteo Group CEO Chikán Attila, will lead the company’s high-level delegation. Alteo has recently launched a regional expansion drive, aiming to establish a green platform of up to 2 GW in energy production, including operation, software, maintenance, storage, and waste management.

The Hungarian company primarily targets its home market, Slovakia, Croatia, and Serbia.

“Electricity knows no borders, therefore partnerships and collaborations among energy market players are essential, even at the regional level. Such cooperation is vital to ensuring the security and reliability of electricity supply, facilitating the integration of renewable energy sources, and providing essential digital solutions, supported by expertise and professional know-how,” Chikán stressed.

Decarbonization strategies for power generation in Southeast Europe 2040/2050

  • Dejan Paravan, CEO, GEN Energija
  • Dušan Živković, CEO, EPS
  • Eric Scotto, CEO, AKUO
  • Milutin Đukanović, Chairman, EPCG Board of Directors
  • Neda Lazendić, Country Manager, WV-International

Although at the heart of national energy systems, state-owned power utilities are faced with an environment that has changed and continues to change rapidly. The key shift is the entry of private capital into electricity production through the construction of solar power plants and wind farms.

The energy transition, at this stage, requires cooperation between state power utilities and private companies. With decarbonization as the main objective, the key challenge lies in choosing appropriate strategies and electricity generation technologies.

Moderating the panel will be Dražen Jakšić, Director of the Energy Institute Hrvoje Požar (EIHP).

“The transition to a low-carbon energy system is a key challenge for our region, demanding innovation, investment, and cooperation. As a sponsor of the Belgrade Energy Forum, EIHP is committed to fostering dialogue and driving sustainable energy solutions. I look forward to an insightful discussion,” he stressed.

Jakšić: The transition to a low-carbon energy system is a key challenge for our region, demanding innovation, investment, and cooperation

In recent years, nuclear energy has emerged as a possible alternative. There is hardly a better interlocutor on this topic in the region than Dejan Paravan, the top man of GEN Energija, the Slovenian company developing the Krško 2 nuclear power plant project.

Dušan Živković, CEO of Elektroprivreda Srbije (EPS), will tell us about the Serbian power utility’s plans when it comes to nuclear energy.

Živković: Without decarbonization, the region’s energy sector has no future

“Without decarbonization, there is no future for the region’s energy sector, and that is the biggest challenge ahead of us. It is essential to accelerate decisions and ensure sustainable project financing mechanisms that will provide energy security for every country and power utility in the decades to come. By investing in existing capacities and new renewable energy projects, EPS, as the biggest utility in the region, will make its own contribution to energy security. That’s why we have initiated a transformation process – because we need to be more profitable, more efficient, and fully prepared to tackle any challenge,” Živković pointed out.

The energy transition, in his words, is the path EPS has chosen, and all its plans will align with that goal, based on the belief that the diversification of energy sources and new technologies are essential for achieving it. “These are just some of the key messages I will share with the participants of this year’s BEF,” said Živković.

Eric Scotto, co-founder and CEO of French company Akuo, will share the latest information on the energy transition from across the globe.

The company’s portfolio consists of 1.9 GW of power plants in operation and under construction, with a further 12 GW in the pipeline in more than 20 countries around the world, including a number of countries in the Southeast Europe region.

Integration of Western Balkans electricity markets into internal European market through market coupling

  • Anže Predovnik, Director, ADEX Group
  • Ivan Asanović, Executive Director, CGES
  • Marko Bislimoski, President, Energy, Water Services and Municipal Waste Management Services Regulatory Commission of the Republic of North Macedonia
  • Zoran Vujasinović, Policy Officer, ACER

The integration of the Western Balkans’ electricity markets with the European Union (EU) markets is a process that deserves much greater public attention than it currently receives. It is safe to say that its true importance will become evident only once it is completed.

Full integration will unlock significant synergies, maximizing the benefits of a unified market by enhancing supply security, accelerating the integration of renewable energy sources, and fostering greater competition and transparency.

Moderator Dejan Stojčevski, CTO of the SEEPEX power exchange, says the panel seeks to encourage dialogue on the importance of cross-border collaboration and market efficiency in bolstering energy security and sustainability in the region.

Bislimoski: The time for inspiring speeches is over. Geopolitical developments demand action – now!

Since market integration is largely the job of regulators, the challenges they face will be analyzed by Marko Bislimoski, president of North Macedonia’s Energy and Water Services Regulatory Commission (RKE).

He says that three things are essential for the regional integration of electricity markets into a single European market: investment, investment, and nothing but investment. In his words, the energy crisis demonstrated that limitations become a reality when governments fail to prioritize the implementation of key energy infrastructure capacities in their budgets.

“This past winter, the region faced the highest electricity prices compared to the rest of Europe. Why? Because the implementation of energy investments is not just a ribbon-cutting ceremony. Today, more than ever before, the countries of the former Yugoslavia must demonstrate maturity. These are the years when energy independence will be built through action. The time for inspiring speeches is over. Geopolitical developments demand action – now!” he stressed.

Energy revolution underway – uniting efforts to deliver green, intelligent and sustainable energy solutions

  • Aleš Prešern, VP, Head of Southeast Europe, Siemens Energy
  • Maja Turković, SVP, CWP Europe
  • Ann-Catherine de Tourtier, Managing Director Mediterranean, Nordex Group

As much as contesting the energy transition may be futile, there are still those who find such a view meaningful, especially in light of certain global political developments. That’s why it is important to give the floor to some of the transition leaders and let them testify that an energy revolution is indeed underway in the region.

The panel’s moderator Mirza Kušljugić – professor, energy expert, and one of the founders of Bosnia and Herzegovina’s Centre for Sustainable Energy Transition Centre (RESET) – goes one step further to show that change is not only happening but also accelerating.

“The key words are a new energy paradigm driven by the four Ds – decarbonization, digitalization, decentralization, and democratization. But now we also have another D: disruption, or radical change in the industry and market caused by technological innovation. Of course, we must focus the discussion – from global processes (China, the US, the EU, the Global South) to where the region stands in all of this,” Kušljugić points out, providing a perfect introduction to the panel.

Turković: It’s more important than ever to have open discussions about real solutions

Aleš Prešern, Vice President and Head of Southeast Europe at Siemens Energy, has worked in the energy sector for more than 20 years. He recalls that digitalization is key, along with grid resilience and electricity transmission.

With nearly 100,000 employees in more than 90 countries, Siemens Energy develops the energy systems of the future, ensuring that the growing energy demand of the global community is met reliably and sustainably. The technologies created in the company’s research departments and factories drive the energy transition and provide the base for one sixth of the world’s electricity generation.

As a leader in renewable energy development, CWP is actively working on several large-scale projects across the SEE region with a total capacity exceeding 7 GW, positioning the company at the forefront of the region’s energy transition. Given its global expertise and insights into the regional energy market, CWP’s contribution to this year’s conference will be invaluable.

Maja Turković, Executive Vice President of CWP Europe, says that BEF 2025 is a key gathering of leading experts driving the energy transition in Southeast Europe.

“As this shift gains momentum, it’s more important than ever to have open, action-driven discussions about real solutions to the challenges and opportunities ahead,” says Turković.

PPAs as a key to renewable energy growth in SEE

  • Nikola Gazdov, Chairman, Association for production, storage and trading of electricity – APSTE
  • Natalija Ljubić, Manager PPA & BESS Transactions, Pexapark
  • Ivana Đurović, Category Manager Renewable Energy, Knauf Group

Power Purchase Agreements (PPAs) are, like flexibility, a tool for fixing the imperfections of renewable energy sources, and they are recognized as a key mechanism within the new electricity market design. They ensure price stability, attract new investment, and accelerate the decarbonization of industry.

Is the region ready for PPAs? What are the dominant models? What is the current market practice? How are PPAs viewed by financial institutions? What do they offer to end consumers and what to investors in new power plants? Answers to these questions will be sought at the panel moderated by Mislav Slade-Šilović, Energy, Utilities & Resources Consulting Leader for Southeast Europe and member of the core PPA team at consultancy PwC.

Experience with PPAs for more than 500 GWh of electricity

Slade-Šilović’s experience in concluding PPAs for the production and consumption of over 500 GWh of electricity per year in the SEE region will certainly be of help.

Nikola Gazdov, Chairman of Bulgaria’s association for electricity production, storage, and trading (APSTE) and member of the Board of Directors of the European solar industry association SolarPower Europe, has no shortage of experience either. As CEO of three companies – Enery Element GmbH, Element Power Group, and Renergy – he is involved in the development of a large number of projects.

Pexapark, a company that provides logistics to businesses in the renewable energy market, is synonymous with PPAs in Europe. Natalija Ljubić is the Manager for PPA and BESS Transactions at Pexapark, which has helped conclude contracts for facilities with a combined capacity exceeding 35 GW.

The views of electricity buyers – without whom there would be no PPAs – will be conveyed by Ivana Đurović, Category Manager for Renewable Energy at Knauf Group.

Market flexibility: the backbone of a resilient energy system

  • Roman Bernard, CEO, NGEN
  • Luka Renko, COO, KOER
  • Alteo Group representative
  • Nikolaj Candellari, Project Manager and Market Intelligence, CyberGrid
  • Marko Zarić, EMS

Moderating the panel will be Elena Boškov Kovač, co-founder and CEO of Blueprint Energy Solutions, and a leading voice on market flexibility in Europe.

She will host representatives of the sector’s leading companies: NGEN, Alteo, KOER, CyberGrid, as well as Serbia’s transmission system operator Elektromreža Srbije (EMS).

“Excited to moderate a high-impact panel on ‘Market Flexibility: The Backbone of a Resilient Energy System’ at the Belgrade Energy Forum 2025,” says Boškov Kovač, whose work has shaped smart grid strategies and digitalization innovation agendas across the EU and under ETIP SNET.

As Europe accelerates its shift to renewables, market flexibility is emerging as the cornerstone of reliable, affordable, and decarbonized energy systems. With the European flexibility market promising to unlock over EUR 20 billion in savings, this session will explore how digital tools, flexible assets, and new market designs are unlocking value and resilience across the grid.

Slovenia’s NGEN is the technology sponsor of BEF 2025

Slovenian energy company NGEN, the technology sponsor of the conference, has managed to establish itself as a significant player in European markets in just five years of operation and is now ready to enter the Western Balkans’ markets.

Specializing in premium battery storage systems and smart energy solutions, the company is developing systems with a total capacity of 1.6 GWh in European countries. Its founder, Roman Bernard, will be speaking at the panel.

Also taking part in the panel will be Luka Renko, COO of KOER, a pioneer in virtual power plants in the region.

Rounding off the lineup of exceptional panelists will be Nikolaj Candellari, who is responsible for project management at CyberGrid. The software company was acquired a few years ago by Austria’s EVN, one of the first to demonstrate that greater integration of renewable energy sources, battery storage, and prosumers is not possible without digitalization and software solutions.

In a nutshell, this innovative company stands for the digitalization of the energy sector, with a focus on virtual power plants.

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