Renewables

US, Serbia discuss ways to boost energy ties

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Photo: Emilija Jovanović

Published

November 13, 2023

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Published:

November 13, 2023

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Serbian Minister of Mining and Energy Dubravka Đedović Handanović has met with Diane Farrell, the US Deputy Under Secretary for International Trade, to discuss ways to improve energy cooperation between the two countries.

According to Minister Đedović Handanović, Serbia plans to decarbonize its energy sector by 2050, and is preparing to adopt strategic documents that will define directions and plans for the energy sector development in the coming decades. To that end, the country needs to invest some EUR 15 billion over the next ten years, she recalled.

Đedović Handanović also recalled that Serbia has selected a consortium of Hyundai Engineering, Hyundai ENG America, and UGT Renewables as a strategic partner for the construction of 1 GW of solar power facilities, adding that the undertaking is among the capital projects set out in the Plan for the Development of Energy Infrastructure and Energy Efficiency Measures for the period up to 2028, with projections up to 2030.

Đedović Handanović: the 1 GW of solar power plants will be owned by Serbia

“We are building solar power plants with a capacity of 1 GW through a strategic partnership and they will remain the property of the Republic of Serbia,” she said, adding that the partner was chosen with strict adherence to public bidding rules.

Serbia has made significant progress in developing the regulatory framework and implementing reforms, especially in the natural gas and renewable energy sectors, she said, stressing that this has been recognized by the European Union (EU).

Farrell: US companies interested in investing in Serbia’s energy sector

Diane Farrell commended the efficient implementation of the Serbia-Bulgaria gas interconnector project, stressing that the diversification of gas supply is important for energy security and business predictability.

Farrell also conveyed the interest of American companies in investing in Serbia’s energy sector. US Ambassador to Serbia Christopher Hill also attended the meeting.

Hyundai Engineering, Hyundai ENG America, and UGT Renewables have been selected to build a group of solar power plants with energy storage systems and hand them over to Serbia’s state-owned power utility Elektroprivreda Srbije (EPS), in what would be the country’s first strategic partnership in the sector.

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