The Ministry of Mining and Energy announced today that representatives of the ministry, power company Elektroprivreda Srbije (EPS), natural gas company Srbijagas and Azerbaijan's SOCAR have completed negotiations in Istanbul on the harmonisation of the Shareholders' Agreement for the establishment of a joint venture that will be responsible for the development and construction of a new gas-fired power plant in Serbia.
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Establishment of joint venture with SOCAR to build gas-fired power plant in Serbia
Belgrade,
3 September 2026
The signing of the agreement between the three companies is expected in Belgrade in the next month.
The new gas-fired power plant is planned to have a capacity of up to 500 MW and to produce electricity and heat, while its construction is expected to be completed in the next four years.
This is the first joint project of EPS, Srbijagas and SOCAR, which represents an important step in further strengthening cooperation between Serbia and Azerbaijan in the field of energy.
The construction of the new power plant will contribute to increasing the security of electricity supply and providing new production capacities, which is particularly important considering the growth in electricity consumption in the country, the statement added.
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Author: Ministry of Mining and Energy
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