EPS to invest EUR 4.5 billion by 2025

Elektroprivreda Srbije (EPS) plans to invest EUR 4.5 billion into Serbian electric power system, but renewable energy sources still cannot replace coal as the main source of energy, according to the Serbian public power company’s strategy director.

“Coal fired power plants will remain the corner-stone of EPS power production in the coming period, along with further harmonisation with the European Union environmental legislation. EPS has already invested EUR 200 million in these processes, another EUR 600 million will be invested in the coming period,” said Jakovljević during the “The Economist: The World in 2017” conference held in Belgrade, as Tanjug news agency quoted.

He has also confirmed previously announced EPS’ plans to invest EUR 500 million in refurbishment of hydro power plants. The financing is to be provided by the European Bank for Reconstruction and Development (EBRD) credit line.

Apart from these projects, EPS also plans projects in the distribution system to increase supply safety and more efficient operations, with total planned investments reaching EUR 4.5 billion, according to Jakovljević.

Jakovljević said that there is also a potential in renewable energy source adding that the state had prepared relevant action plans that will be realized.

“What has to be said, since it is the most frequent question, whether renewable energy sources can become an alternative for coal in Serbia. Not at this moment. Not for a longer period of time”, said Jakovljević to the conference, adding that renewables should be included according to technological and technical feasibility taking care not to jeopardize the prices of electricity for end consumers.

EPS also plans projects to reduce the carbon-dioxide (CO₂) emissions, while another field of action is the improvement of energy efficiency.