Serbia seeks UK support for key energy projects

Serbia plans to invest some 15 billion euro ($16.3 billion) in its energy sector in the next 10 years and needs credible partners to help it implement all planned projects, Handanovic said during a meeting with UK Export Finance head Tim Reid, as quoted in a statement on the government's website earlier this week.

According to Handanovic, Serbia is expected to add 2,000 new green megawatts to its power grid by the end of the decade, including 1,000 MW of self-balanced solar plants, according to the statement.

UK Export Finance works with more than 100 private credit issuers and lenders to help UK companies access export finance, as well as to win export contracts by providing attractive financing terms to their buyers.

Earlier in February, Handanovic said that Serbia aims to build the long-planned 628 MW Bistrica reversible hydro power plant (RHPP) by 2031. The project is valued at some 1 billion euro and is of major importance for the country's energy system since it will add new energy storage capacities to the power grid.

Another long-planned project is the construction of the 2,400 MW Djerdap 3 hydropower plant at the Djerdap hydropower complex, located in the Iron Gate gorge on the Danube river. The complex was built jointly by Serbia and Romania and commissioned in the 1970s. The Serbian part of the complex comprises Djerdap 1 and Djerdap 2 HPPs with installed capacities of 1,058 MW and 270 MW, respectively.

In addition, Serbia plans to start this year the construction of self-balanced solar power plants with a capacity of 1 GW along with battery systems for storing electricity. The solar plants, expected to be completed by 2028, will generate an annual production of 1.2 TWh.

($ = 0.921 euro)