German investments in Serbia depend on availability of green electricity

Germany and Serbia share the objectives of a green transition, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action Franziska Brantner said. German companies strive to become climate neutral by 2045, so when they are considering investments in Serbia, it is very important for them whether they can secure a renewable energy supply for the coming decades, she pointed out.

Speaking at the Green Energy Transition Dialogue conference in Belgrade, Serbian and German high-ranking officials have confirmed the commitments of the two governments to the green transition of their economies.

Europe is facing a difficult winter with regard to energy supply, according to Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action Franziska Brantner. “The way out is to become more independent and to invest in renewable energy, energy efficiency and in European solidarity in the energy sector. I am very glad that we share these objectives of a green transition, of a green transformation, which will bring us security, jobs and climate protection,” she stated.

Germany’s economy is going through complete decarbonization

Both countries will continue to promote German investments in Serbia to fulfill the said ambitions, Brantner said. The first question from German companies that are interested in starting industrial production in Serbia is whether they can secure a renewable energy supply over the coming decades for their future facilities, she revealed.

All companies have decarbonization plans, aimed at achieving carbon neutrality by 2045, the state secretary added. Among other necessary measures, they must buy verified renewable electricity.

No national security without energy security

The event was held within the Serbian-German Climate Partnership and German-Serbian Initiative for Sustainable Growth and Employment, implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and Germany’s KfW Development Bank.

Serbia’s Deputy Prime Minister and Minister of Mining and Energy Zorana Mihajlović noted the bilateral partnership began 71 years ago and that KfW invested more than EUR 1.4 billion in the last 20 years.

In these challenging times, energy security is prerequisite for national security, the deputy prime minister stressed.

Serbia plans to accelerate the process of shutting down coal-fired power plants

“We discussed a lot about how we can phase out coal and what the dynamics would be. I asked the state secretary to work with us on the dynamics, on the ways how to adopt the aim faster here to have much more electricity and heat from renewable sources,” Mihajlović said and added work is underway to accelerate the coal plant shutdown process.

Serbia’s draft Integrated National Energy and Climate Plan until 2030 envisages cutting carbon dioxide emissions by 40% from the 1990 level alongside an increase in the share of renewable energy sources to 40%, Mihajlović noted.

German Ambassador to Serbia Anke Konrad attributed the impact of the energy crisis on countries including Germany and Serbia to Russia’s war against Ukraine. “Green transformation and energy security are key factors when it comes to defining our response and they are closely interconnected,” she said.

Konrad also praised Serbia for adopting a set of key energy and climate laws.