Your cart is empty.

Our Blog

Serbia Completed its Second RES Auction, and 10 New Solar Photovoltaic and Wind Power Projects Will Receive Incentives of EUR 782 Million

/BELGRADE, SERBIA, February 21, 2025, 10:00 CET, GGF, RENEWABLE MARKET WATCHTM/ In the second round of auctions for the allocation of market premiums for renewable energy projects (RES) announced by the Ministry of Mining and Energy in November 2024, investors applied for 41 projects. The offered quota of 424.8 MW for solar and wind power plants was significantly exceeded. The total capacity of the power plants that received incentives is 645 MW, and the total planned investment value is 782 million euros.

The second round of auctions was extremely successful, both in terms of capacity and offered prices, but also in terms of the fact that all electricity from power plants that receive incentives will go to the Serbian Electric Power Company to supply our economy and citizens. Seven projects were registered for wind power plants, while 34 applications were received for solar power plants. The offered quota has been fully used, and the capacity that will be built is 645 MW, i.e. we will have 10 new wind and solar power plants. The offered prices are very competitive, i.e. 50.9 euros per megawatt-hour for solar and 53.5 euros per megawatt-hour for wind, which is significantly below market levels. “According to our incentive model, this means that we do not expect there to be any subsidization of power plants, but rather that they will mostly return extra profits to the state as long as market prices are higher than those offered by the auction winners,” said Minister of Mining and Energy Dubravka Đedović Handanović, regarding the completed auctions.

The total value of the investments to be implemented is 782 million euros, which will significantly contribute to economic growth this year and next, the minister stated. “New wind and solar power plants will bring greater energy security because, for all projects, investors have offered to purchase the energy produced to supply domestic consumers for the next 15 years. In other words, green energy will remain in Serbia and will not be exported to other markets,” added Đedović Handanović.

The minister emphasised that the prices obtained at the auctions were highly favorable. “We expect that in addition to green energy and a more secure supply to the state, or EPS, there will also be financial benefits,” she said.

The three-year incentive system plan adopted by the Government in 2023 foresees the allocation of market premiums for 1,300 MW for renewable energy producers. In the first round of auctions successfully conducted in 2023, the total installed capacity of power plants that will be on the grid by the end of next year is 715 MW.

The market premium is an incentive for electricity production by which the state protects the producer from changes in market prices compared to the price offered by the producer at the auction by paying the difference between the price offered at the auction and the market price. If market prices are higher than the producer’s price offered at the auction, the producer will pay the difference to the state. The reference market price for calculating the market premium is the price of electricity on the Serbian Electricity Exchange (SEEPEX).

For more information and answers to your questions about the Serbian and  Western Balkans solar and wind market and related content, you may read here: Western Balkans Solar Photovoltaic (PV) and Wind Power Market: Outlooks 2025÷2034

In order to download the executive summary brochure with sample pages, 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 – 2025

About Renewable Market Watch™

Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting-edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets in Asia Countries, Western Europe, South Europe, Balkan countries, Central and Eastern Europe, CIS states (formerly the Soviet Union), LATAM countries, and MENA countries. For more information about Renewable Market Watch™, please visit:

https://renewablemarketwatch.com/about-us

100%

Client satisfaction is our top priority.

2K+

Customers over all the world.

A well written and informative outlook which analyses difficult to forecast sector!

Thomas Bergler CEO, ISA Solar Gmbh

Thank you very much! Good comprehensive report.

Jan Schelling Senior Technology Analyst, Statkraft Development AS

I have great respect for their work.

Gerhard Steindl Managing Director,Energiewerkstatt (EWS) Consulting GMBH

Captures a wide spectrum of market issues about Turkish wind energy market!

Nam Kim Sales Manager, Hyundai Heavy Industries

Many thanks for this superior analysis for Romanian Solar PV market!

Matteo Trabacchin Senior Lawyer, Grimaldi Studio Legale

The report is very interesting and will be more than useful for us!

Mirela Bracau Green Energy Unit, ProCredit Bank S.A.

They had very acceptable cost, provided interesting and quality content!

Dr. Alexander Zachariou Europe Profil Aluminium S.A.

Excellent report outlook about Bulgarian Biomass Market!

Valeri Georgiev Senior Energy Expert, Silistra Municipality

The information delivered about PV markets of SEE countries was accurate and relevant.

Michael Brand HANWHA Q-CELLS SE, Director Sales New Markets

This rerpot is actually quite useful snapshot of the Ukrainian biogas market!

Nazir Termiov CEO, AgroBioGas Ltd.

From Our News & Analysis Blog

Popular Topics

Our Top Sellers

Contact Us

for unmatched expertise and timely intelligence on renewable energy news, analyses, and market reports to drive your success in the green energy transition.

24/7 ONLINE CHAT

QUICK RESPONSE

BENEFICIAL ADVICE

+44 203 807 00 79

DO NOT HESITATE TO CALL US

Monday – Friday 8:00 – 21:00

Our Support Team

WILL PROVIDE YOU WITH ON-TIME

AND RELEVANT SERVICE

This website uses cookies to enhance your browsing experience.