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Finance

Public consultations on Serbia’s energy and climate plan to start in July, Minister says

On Wednesday (14 June), Serbia’s Minister of Mining and Energy, Dubravka Đedović met with the Executive Board of the Council of Foreign Investors (FIC) to discuss strategic planning for the development of the energy sector and reforms aimed at improving business in energy companies.

“In July, we expect the start of the public discussion and we hope that the Government will adopt the Integrated National Energy and Climate Plan in the fall. This strategic document represents the basis of the development of our energy sector until 2030, with projects until 2050 in terms of increasing the participation of RES [renewable energy sources] in the energy mix, energy efficiency and reducing harmful gas emissions. In 2019, we were already above the EU average in the share of RES in the energy mix, primarily thanks to our hydropower plants, but through the partnership of the public and private sectors, we will have to work harder to increase the capacity of solar and wind power plants,” Minister Đedović said.

During the meeting, the Minister also highlighted the launch of auctions for the allocation of market premiums for renewables, which took place on the same day.

Executive Director of the Council of Foreign Investors, Aleksandar Ljubić praised the beginning of reforms of public companies in the energy sector and emphasised the interest of foreign investors in the safe supply of gas to Serbia.

“We have been advocating for the corporatization of energy companies in Serbia for 20 years and we praise the beginning of reforms in the energy sector that we continuously recommend in our White Book. Also, many foreign investors are natural gas users and are very interested in secure supply given the unpredictable global volatility. We commend all the initiatives of the Government and the relevant ministry aimed at diversifying and improving the supply security of the Serbian market,” said Ljubić.

He added that Serbia is a good place to invest and that the development of digital infrastructure, the availability of energy sources as well as a predictable business environment are important to foreign investors, which we are actively working on with the Serbian government.

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