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The Government of the Republic of Serbia

In the service of citizens

Serbia leader in energy reforms, decarbonisation process

Belgrade, 15 March 2024

Minister of Mining and Energy Dubravka Djedovic Handanovic spoke today with the IMF Mission, led by Donal McGettigan, as part of the third review of the standby arrangement with Serbia.

The officials discussed the most important capital investments, the implementation of reforms in the energy sector and measures to increase the security of supply of electricity and energy products.

The Minister said that a public call for a strategic partner for the construction of self-balancing solar power plants with a capacity of one gigawatt was conducted and that commercial conditions are now being negotiated with the selected consortium led by Hyundai Engineering.

According to her expectations, the new block of TE Kostolac B3 should be online soon, and in the first half of next year the first EPS wind farm in Kostolac will be online.

She added that the construction of the desulphurization plant in TENT A, which is currently the largest environmental project in thermal power plants in Europe and the third largest in the world, is being completed and will be put into operation in the next few weeks.

Djedovic Handanovic assessed that good progress has been made in the preparations for the construction of RHE Bistrica, which is a key project for balancing new capacities from renewable energy sources, for which a spatial plan is being drawn up and intensive discussions are being held on securing financing.

Speaking about the situation in the energy system, she stated that the coal reserves at the dumps of TE Nikola Tesla A and B and TE Kostolac currently amount to approximately 2.2 million tons, and that the current hydrological reserves are twice as large compared to September last year, and almost 40 percent higher than the five-year average.

One of the topics discussed with the IMF Mission was the reformation of Elektroprivreda Srbije, where it was said that the financial situation of EPS was normalised in 2023 after the stabilisation of the electricity market and a very favorable hydrological situation.