June 16 (SeeNews) - Serbian energy minister Aleksandar Antic said on Friday the country needs more investments in renewable energy projects as the monopolistis position of Elektroprivreda Srbije (EPS) puts the entire system under pressure.
The energy system operates under extreme pressure, as EPS is the sole producer of electricity, Antic said during an energy conference in Belgrade, according to a government press release.
You can download the 2024 Renewable energy in Southeast Europe report here
The government is taking measures to ensure the safety of the energy system and make EPS operate according to existing demand, Antic said.
The total capacity of wind farms in Serbia next year is expected to reach 100 MW, according to Antic.
The operation of coal-fired power plants becomes unprofitable as environmental rules of the EU take hold and a quick transition to renewable energy is needed in Serbia, Dragan Vlaislavljevic, electricity distribution director at EPS, said.
Tatjana Pavlovic, chief financial officer of EPS, said on Thursday the company plans to cut more than 5,000 jobs by 2019, outperforming on the cost-cutting requirements of the International Monetary Fund (IMF).