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The Government of the Republic of Serbia

In the service of citizens

Cooperation with Japan in field of renewable energy sources

Belgrade, 26 April 2023

Deputy Prime Minister and Minister of Finance Sinisa Mali today handed over a Letter of Intent to Ambassador of Japan to Belgrade Takahiko Katsumata, in which the government's will to further improve the partnership with the Japan International Cooperation Agency (JICA) is highlighted through the financing of the reversible hydroelectric power plant Bistrica.

During the farewell visit of the Japanese Ambassador, Mali explained that it is a strategically important project that increases the share of renewable energy sources in Serbia, which is one of the priorities, and also enables the balancing of production and storage of electricity.

The Letter of Intent highlights the commitment of the Ministry of Finance, the Ministry of Mining and Energy and Elektroprivreda Srbije to finding the best financial and technical solutions for the effective implementation of this project, which is foreseen in the 2023 Budget Law, he said.

The officials agreed that recent years in the world have shown that further investments in energy and so-called clean energy are necessary.

Mali noted that the government is preparing an investment plan in this area, as well as a comprehensive strategy, in which one of the most important projects is the construction of the reversible hydroelectric power plant Bistrica.

Mali and Katsumata agreed that Japan has a valuable experience when it comes to projects in the field of improving environmental protection, and that in this sense the Japanese experience is valuable.