Serbia targets €14.4 billion energy transition and 3.5 GW renewable capacity

Serbia is advancing its energy transition toward the European market through the Serbia 2035 Plan, which outlines a total investment of €14.4 billion. The plan aims to enhance energy security, diversify supplies, and increase cross-border capacity by approximately 50%. Key allocations include €6.5 billion for electricity generation, €2.4 billion for transmission and distribution, and €1.2 billion for the gas sector.

Major infrastructure projects include the construction of the Bistrica pumped-storage hydropower plant in cooperation with Japanese partners, and the Đerdap pumped-storage plant, intended to serve as a regional energy storage hub.

Minister of Mining and Energy Dubravka Đedović Handanović stated that Serbia aims to reach at least 3.5 gigawatts of new renewable energy capacity by 2030. Solar and wind capacity has already grown from 400 megawatts to over 1.3 gigawatts in the last four years, with expectations to reach nearly 1.5 gigawatts by the end of this year. The strategy emphasizes a combination of private investment, state-led initiatives, and the expansion of active consumer-producers to stabilize the energy mix.