Serbia is expected to finish drafting its energy storage regulations by the end of the year, completing its already strong regulatory framework for renewables, according to Svetlana Cerović, Head of Specialized Lending at UniCredit Bank Serbia. In the next auction for market premiums, Serbia should consider recognizing the contribution of projects involving energy storage, she said at Belgrade Energy Forum 2025.
The two renewable energy auctions Serbia has held so far have shown that its regulatory framework is exceptionally good, Svetlana Cerović said on the sidelines of BEF 2025, adding that it is very important for a third auction to take place to ensure the development of additional renewable energy capacities.
Initiating and financing investments in renewable energy requires a stable, predictable, and transparent regulatory framework, she stressed.
When it comes to regulations covering energy storage, Cerović said she was encouraged to hear that they were being drafted quickly and could be finalized before the end of this year.
“When we talk about renewable energy sources, we talk about long-term financing. Most of these projects are financed through project financing without the right of recourse, and in this sense, the regulatory framework and the predictability of cash flows are very important,” she reiterated.
UniCredit, as a pioneer in the field of renewable energy financing, offers various types of services and has already supported several projects that have been awarded market premiums and guarantees, according to Cerović. “We continue to actively finance these projects and remain open to dialogue,” she said.
UniCredit has financed several projects that have won market premiums
Speaking at a panel on energy storage in Southeast Europe, Cerović said that Serbia should consider involving energy storage in the next auction for market premiums and facilitate flexibility services, adding that the first renewables projects in Serbia that are required to include energy storage are already negotiating financing.
Cerović: The state should subsidize batteries for prosumers and back smaller renewables projects
She also recommended subsidizing battery storage for prosumers as an energy efficiency measure and allocating part of the auction quota for smaller renewables projects, which find it difficult to secure long-term power purchase agreements (PPA).
Talking about BEF 2025, she said the forum had demonstrated its exceptional significance and relevance by bringing together key players in the financing and development of energy projects. The conference was extremely useful for UniCredit, allowing it to make important contacts and initiate potential partnerships, according to her.
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