EPS CEO Dušan Živković and Dubravka Đedović Handanović (photo: EPS/Danilo Mijatović)
The start of construction of solar power plants in a project for a total capacity of 1 GW is expected in 2026, Minister of Mining and Energy of Serbia Dubravka Đedović Handanović said.
State-owned power utility Elektroprivreda Srbije (EPS) announced that its shareholders’ assembly adopted the Three-Year Business Plan for the period 2026-2028.
Dubravka Đedović Handanović pointed out that the company had good production and financial results for three consecutive years. According to the adopted three-year business plan, this trend will continue in 2026, she added.
EPS will invest EUR 1 billion in 2026
The minister recalled that in 2025 EPS built its first wind farm – Kostolac, and the Petka solar power plant, with a combined capacity of 76 MW. The company also finished the construction of the desulfurization facility at its coal-fired power plant Nikola Tesla B (TENT B), allowing the reduction of sulfur dioxide (SO2) emissions by 20 to 40 times, she added.
“Investments this year have also been at a high level, 97% in fact, considering that due to the scope and complexity of preparatory activities, the start of materialization of the project for the construction of solar power plants of 1 GW is expected in 2026. The focus of investments of around EUR 1 billion in 2026 will be on maintenance and improvement of the reliability of the power system and, primarily, on increasing the share of renewable energy sources in EPS’s energy mix,” Đedović Handanović stressed.
The company will build new solar power plants as well
The largest portion of the investments, in her words, is planned for new renewable energy plants, such as the construction of solar power plants totaling GW and pumped storage hydropower plant Bistrica, as well as the development of a larger number of solar power plants on land owned by EPS.
Of note, the company is developing the 1 GW solar project, which includes batteries, in collaboration with a consortium comprising Hyundai Engineering and UGT Renewables.
EPS yesterday invited bids for a preliminary feasibility study and conceptual design for a solar power plant on the ash disposal site of TENT A.
The minister revealed that next year’s plan includes an increase in employees’ salaries.
The company will continue its transformation activities, she added. Đedović Handanović welcomed the fact that EPS didn’t take out liquidity loans this year.
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