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The Government of the Republic of Serbia

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Deepening cooperation with Great Britain in field of energy

Belgrade, 11 May 2023

Minister of Mining and Energy Dubravka Djedovic talked today with United Kingdom Trade Commissioner for Europe Chris Barton about deepening cooperation between the two countries in the field of energy and the energy transition process.

Djedovic said that Serbia has a very good investment environment, the GDP has doubled in the last ten years, the previous year was the record year by the inflow of foreign direct investments, and investment in energy infrastructure is becoming an important priority, which is why by the end of this decade, investments greater than €15 billion will be realised, especially in renewable energy sources.

We have improved the legal regulations in the field of renewable energy sources and are preparing a plan for priority investments in the energy sector. There is great potential for improving cooperation between our countries in the process of energy transition, Djedovic pointed out.

The Minister emphasised that the drafting of strategic documents in the energy sector is underway, which will define Serbia's new energy policy, as well as set goals for the participation of renewable energy sources in the energy mix, reducing emissions of harmful gases and increasing energy efficiency.

She stated that Serbia has favourable conditions for the development of renewable energy sources and that the construction of the reversible hydroelectric power plants Bistrica and Djerdap 3 is particularly important, which will make a major contribution to the integration of new capacities from renewable energy sources and greater energy security.

Commissioner Barton pointed out that there is an exceptional opportunity to improve economic relations between Great Britain and the Republic of Serbia, especially in the field of energy and mining, energy transition and infrastructure, bearing in mind the experience of British companies and the possibilities of the UK Export Finance credit mechanism.