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Serbia and EBRD signed a Memorandum of Understanding (MoU) to Cooperate in Renewable Energy Sources and Clean Energy Transition

/1st April 2021, EBRD, Serbian Ministry of Mining and Energy, RENEWABLE MARKET WATCHTM/ Deputy Prime Minister and Minister of Mining and Energy Prof. Zorana Mihajlovic talked at the end of March 2021 with the President of the European Bank for Reconstruction and Development (EBRD) Odil Rene-Baso, who is on a virtual visit to Serbia, and on that occasion signed a Memorandum of Understanding between the Ministry and EBRD, which aims to provide a framework for cooperation with the aim of improving air quality, promoting the use of renewable energy sources for the production and distribution of thermal energy in Serbia and increasing energy efficiency.

The Mihajlovic pointed out that the Ministry has defined several strategic pillars - the legislative framework, the new investment plan in energy and the reform of the operations of public companies. "We have prepared four laws, as a basis for creating a better business environment and new investments in energy and mining. In addition to the law on energy, we will have a completely new law on renewable energy sources, we will form the Directorate for Energy Efficiency through the law in this area and, especially important, due to numerous potentials and possibilities - the law on mining. There is a lot of room for continuing successful cooperation with EBRD, especially if we are talking about the construction of medium and large hydropower plants, about renewable energy sources - solar panels, biomass, wind farms. "Energy transition and green energy are our priority," she said.

Mihajlovic informed the President of the EBRD that the National Plan for Energy and Climate is being drafted and that the Ministry will start drafting the Energy Development Strategy, with the projected strategic goals for the next 20 years. EBRD President, Odil Rene-Baso, congratulated Deputy Prime Minister on the results achieved in a short period and pointed out that this international financial institution is there to support further activities of the Ministry.

"We believe in energy transition and green energy, happy for everything you have done so far and we are looking forward to furthering the cooperation. Renewable energy sources and clean energy are also our key strategic goals. You have made tremendous progress in a short time. The new laws will lead directly to new investments and we are here to support you. "Serbia is an example of good practice and is taking a leading position in renewable energy sources, we can learn from you," she said. The meeting was attended, among others, by the EBRD Vice President, EBRD Regional Director for Central and South-Eastern Europe and Regional Director for the Western Balkans.

Large-scale investments in renewable energy projects are providing alternative power sources to traditional coal, and work is being carried out to modernise the district heating networks across the Western Balkans region. In the Western Balkans Solar and Wind Power Market: Outlooks 2020÷2030, more than 135 solar and wind projects across the region are featured, but some of the most important have been financed with the EBRD's support and are as follows:

1) In Albania, the EBRD financed the modernisation of Korporata Elektroenergjitike Shqiptare (KESH), the largest generator of electricity in the country, supporting the company with a restructuring and reform package.

2) The Bank financed the first two large-scale wind farms in Kosovo: Kitka and Bajgora wind farms, providing a concrete way forward to address the challenge of power cuts and pollution caused by the lignite coal powering Kosovo’s two main electricity plants.

3) In Montenegro, following a long policy dialogue on the bankability of the power purchase agreement, the EBRD was the first financial institution to structure a project finance loan for the Krnovo wind farm, the first private wind farm in the country and at the time of financial close also the first private wind farm in the Western Balkans region.

4) In North Macedonia, the EBRD financed ESM, the first large-scale solar power plant on the site of an exhausted lignite coal mine, representing a tangible example of how to implement some of the solutions of the EU Just Transition policy for coal mine regions in the Western Balkans.

5) In Serbia, the Bank backed the construction of the country’s two largest wind farms: the 158MW Čibuk wind farm in Dolovo; and the Kovacica wind farm with a capacity of 104 MW.

The more information and answers to your questions about Western Balkan's solar and wind energy markets, you may read here: Western Balkans Solar and Wind Power Market: Outlooks 2021÷2030

To download the executive summary brochure with sample pages for the solar sector, please access from here: Western Balkans Solar Photovoltaic (PV) Power Market Outlook - Sample

For a better understanding of the benefits of using our reports, you may read here: Benefit List - Reports of Renewable Market Watch - 2021

To download the executive summary brochure with sample pages for the wind sector, please access from here: Western Balkans Wind Power Market Outlook - Sample

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