Serbia plans EUR 1bn in annual residential renewables investment – ministry
Date: June 30th 2021
Author: Tanja Srnovršnik
Serbia is planning between EUR 500m and EUR 1bn of investments in renewables in its residential sector in the next 20 years, said Zoran Lakicevic from the country’s energy ministry on Wednesday.The country adopted a new law on renewables in April, which aims to reduce the amount of red tape needed to install solar panels on the roofs of both residential and commercial buildings.
The ministry is very keen on rooftop solar, as it believes that it will enable the country to have 4-6 GW of installed solar capacity. A total of 8-10 GW of renewable capacity is needed for the country to replace its coal plants, said the ministry in April.
Serbia currently produces about 65% of its electricity from coal, while the rest is mostly from hydro. It is now drafting its national energy and climate plan to indicate the projects that will be supported by the state in order to reach the country’s goal of closing “a number of coal plants” by 2030 and the rest by 2050, said Lakicevic during the online Energy Community Just Transition Forum. The plan is expected to be adopted by the end of the year, he added.
According to Lakicevic, Serbia has identified projects in the area of renewables, energy efficiency and the energy transition amounting to EUR 15bn and is “working closely with financial institutions to put together plans and financing for these projects.”
Serbia’s energy transition plan includes new gas and hydro power plants, in addition to new wind and solar capacities.
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