Serbian minister discusses electricity sector investment with Saudi fund

Minister of Mining and Energy Dubravka Đedović met with the representatives of the Saudi Fund for Development in Belgrade to discuss Serbia’s long-term strategies for the mining and energy sectors.

The Saudi Fund for Development is Saudi Arabia’s government agency funded in 1974. It finances projects in the areas of transportation, energy, agriculture, water supply and healthcare.

Đedović pointed out that Serbia is undergoing an energy transition and that it is about to enter an intensive energy sector investment cycle, the ministry said. The aim is to change the energy mix to achieve security of supply, the minister added.

Serbia is preparing for a series of investments in energy production

“In our mid-term plan there is a series of strategic projects for the next five years requiring investments of several billion euros, primarily in production capacities, but also for strengthening the transmission and distribution networks to enable more energy from renewable sources on the grid,” Đedović stressed.

Drafting is underway of strategic documents: the Integrated National Energy and Climate Plan and the Energy Development Strategy

The ministry noted that strategic documents are being drafted – the Integrated National Energy and Climate Plan and the new Energy Development Strategy. They will determine long-term objectives and priorities for reducing the energy sector’s environmental impact while maintaining the sustainability and stability of the energy system.