Foto: Pixelharvester from Pixabay
Serbian state-owned power utility Elektroprivreda Srbije (EPS) posted a RSD 42.3 billion (EUR 360.3 million) profit for 2025, a significant increase from RSD 26.1 billion the previous year, though still well below the record RSD 114 billion, achieved in 2023. At the EPS shareholder meeting, Serbia’s minister of energy and mining recalled that construction of 1 GW of solar with battery storage is expected to begin this year.
Minister of Energy and Mining Dubravka Đedović Handanović said EPS’s three consecutive years of profitable operations were the result of “prudent and rational management.”
She stressed that 2025 was a year of challenges and reforms and pointed to increased coal production and higher electricity output from thermal power plants. The minister recalled that 76 MW of renewable energy capacity was brought online last year, and that, for the first time, EPS’s power generation portfolio now includes wind and solar.
EPS commissioned 76 MW of renewable energy capacity in 2025
Đedović Handanović also recalled that EPS completed the trial operation of a flue-gas desulfurization system at coal-fired power plant TENT A, as well as the construction of a similar facility at TENT B.
She added that EPS’s investments in 2025 amounted to RSD 52.7 billion, or 97% of the plan, of which RSD 44.97 billion came from its own funds.
The minister said that most of the overhaul work on the second unit of pumped storage hydropower plant Bajina Bašta was completed last year, and that the facility will contribute to Serbia’s energy security at full capacity starting in March.
Đedović Handanović: Pumped storage hydropower plant Bajina Bašta will operate at full capacity from March
She also called for stepping up efforts on the project to build the Bistrica pumped storage hydropower plant, as well as solar power plants.
Construction of 1 GW of solar with batteries should begin this year
Speaking about the 1 GW solar power project with battery storage, Đedović Handanović said that its implementation is expected to begin in 2026 “due to the scope and complexity of the preparatory activities.”
In October 2024, Serbia signed an agreement with the Hyundai Engineering – UGT Renewables consortium on building solar power plants with a total connection capacity of 1,000 MW (1,200 MW in nameplate capacity), along with battery energy storage systems of up to 200 MW in overall capability and a capacity of 400 MWh.
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