Power utility Elektroprivreda Srbije has developed its Decarbonization Action Plan, said Executive Director for Investments and Development Aleksandar Jakovljević.

The Decarbonization Action Plan of Elektroprivreda Srbije (EPS) involves the gradual reduction of electricity production from coal, the construction of pumped storage hydropower plants, and over 20 GW of new capacity from renewable energy sources, Aleksandar Jakovljević explained.

For EPS, the energy transition is not only a challenge but also a great opportunity to improve the company in the process of Serbia’s industrial and technological transformation, in Jakovljević’s view.

The energy transition isn’t just a matter of adaptation and transformation of one company, but the entire energy sector, the economy, as well as society, he said at the Power Plants 2025 conference, organized by the Society of Thermal Engineers of Serbia.

Jakovljević: It is important to analyze the experiences of other countries that started the energy transition before us

Jakovljević noted that it is important to analyze the experiences of countries that started the energy transition before Serbia, to apply proven solutions and avoid mistakes. However, in his words, it is also necessary to consider the characteristics of Serbia’s power sector.

​The decarbonization of EPS is already underway with various projects, he asserted and added that by the end of the year, the company’s green portfolio would increase by 76 MW.

The 10 MW Petka solar power plant has been completed, and soon the trial operation of EPS’s first wind farm – Kostolac, with a capacity of 66 MW, will kick off.

Jakovljević recalled that the company is preparing to build pumped storage hydropower plant Bistrica, with a capacity of 650 MW, saying it is a key facility for the integration of renewable sources and for energy stability. He added it is also developing photovoltaic projects, including one for 1 GW and a 200 MW battery energy storage system (BESS).

From 2026, every ton of CO2 produced in EPS’s plants will be priced

EPS is developing renewable energy projects at locations near mines and coal power plants, where existing infrastructure can be utilized, and connections to transmission and distribution networks are available, Jakovljević explained.

He noted that Europe has set the climate neutrality goal for 2050, and that Serbia has committed to reducing carbon dioxide emissions by at least 33% and to produce 45% of its electricity from renewable sources by 2030.

From 2026, every ton of CO2 produced in EPS plants will be priced, exposing coal production to additional challenges, Jakovljević stressed.

However, in his words, EPS’s goal remains clear – reliable and sustainable energy for Serbia and a profitable EPS as a secure support for consumers, and energy independence in the future.