Serbia seeks to increase its wind capacity. Credit: The European Bank for Reconstruction and Development.

Serbia has announced the launch of its first renewables auction for 400MW of wind power and 50MW of solar PV.  

The auction follows a “technical cooperation project” between Serbia’s Ministry of Mining and Energy and the European Bank for Reconstruction and Development (EBRD). The project was supported by the Government of Switzerland via a grant from the Swiss State Secretariat for Economic Affairs. 

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“We will encourage the inflow of direct foreign investments, the growth of GDP, the development of the construction industry, the potential reduction of electricity costs and a more secure supply of our economy and citizens,” said Minister for Energy and Mining Dubravka Đedović in a statement. 

The contracts will be supported for 15 years through contracts for difference, under which developers are protected from volatile wholesale prices. Developers will receive support in line with market prices in addition to the sale of electricity. 

The auctions are the first round of a three-year plan to allocate a total capacity of 1,000MW for wind power generation capacity and 300MW for solar PV. The public call for applications closes on the 14 August.  

Renewable energy in Serbia 

“We are aware of the necessity of switching to cleaner energy sources and are working responsibly to take measures to decarbonise our energy sector,” Đedović went on. “I believe that the first auctions for 450MW from RES [renewable energy sources] are a clear indicator of our commitment to cleaner and healthier energy.”

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The EBRD has in total invested €300m ($328m) into the Serbian energy sector to increase its energy security and reduce emissions. 

Matteo Colangeli, EBRD head of the western Balkans, said in a statement that the bank’s “cooperation on broader sector reform and the implementation of auctions has helped to reach this milestone in the transition to a secure, resilient and more sustainable energy sector”. 

The EBRD also announced on 14 June that it will grant €62m to Elektroprivreda Srbije, Serbia’s national power utility, for the rehabilitation of the Vlasinske hydropower plant. Serbia plans to generate 49.6% of its electricity from renewable power sources by 2040, up from 26.3% at the end of 2020.