Serbia’s state utility company, EPS, is planning to implement 1 GW AC of solar and 200 MW of energy storage and is seeking a strategic partner to assist in the project. The proposed installation will be the largest of its kind in the region with a total value of around EUR 1.5 billion, and is part of Serbia’s efforts to increase the share of renewable energy in its energy mix.
Solar Power Potential in Serbia
The solar power potential in Serbia is largely untapped, despite the country having a high solar irradiation level. According to the Solar Atlas of the Republic of Serbia, the country has an annual average of 1,300-1,600 kWh/mﾲ of solar energy. However, only a few solar power plants have been built, with a total installed capacity of less than 50 MW. This presents a significant growth opportunity for the country’s renewable energy sector.
Energy Storage in Serbia
The energy storage market in Serbia is relatively new and underdeveloped. A lack of financial incentives and regulatory frameworks have hindered the growth of the energy storage industry in the country. However, the EPS project has the potential to increase interest in the sector, as the implementation of energy storage technology is essential for the integration of renewable energy into the grid.
EPS Seeking Strategic Partner
EPS has announced that it is looking for a partner to provide technical and financial support for the implementation of the solar and storage project. The ideal partner would bring expertise in renewable energy, project development, and financing. Interested parties can submit expressions of interest until August 2021.
The EPS solar and storage project represents a significant opportunity for Serbia to increase its share of renewable energy and further develop its energy storage industry. The implementation of the project will require a strategic partner with specialized expertise and financing capabilities. As the project progresses, it will be important to monitor its impact on the country’s energy mix and the growth of the renewable energy sector in the region.