Renewable Energy Surge In Serbia

National Economy

The land-locked, European country of the Republic of Serbia is bordered by Hungary, Romania, Bulgaria, North Macedonia, Croatia, Bosnia and Herzegovina, Montenegro, and Albania. The population of Serbia is approximately 8.64 million people[1].

In 2022, Serbia’s economy was ranked 86th in the world in gross domestic product (GDP)[2]. The country’s economy[3] is dependent on the export of insulated wire, corn, rubber tires, copper ore, and frozen fruits.

Environmental Policies

In 2016, Serbia signed the “Paris Climate Agreement”[4]. committing to a 9.8% reduction in greenhouse gas emission by 2030 compared to 1990 levels.

Power Generation Capabilities

In 2020, 100 % of the people in Serbia had access to electricity[5]. In 2021, state-owned utility Elektroprivreda Srbije used coal (63.7 %), renewable energy (33.4%), oil (1.5%), and natural gas (1.4%) to generate electricity in Serbia[6]. Hydropower and biomass are the dominant types of renewable energy used to generate electricity in Serbia.

Recent renewable energy projects in Serbia include:

  • 2,400 MW Pumped Storage Hydropower Project – In September 2022, the Serbian Ministry Of Mining And Energy announced plans to build the Đerdap 3 pumped storage hydropower project at site approximately 50 miles east of the nation’s capital, Belgrade. The project is forecast to be commissioned by year-end 2026.
  • 854 MW Wind Project – Serbian company, Fintel Energija is continuing work on the Maestrale Ring wind project which is located approximately 50 miles northwest of Belgrade. The project is forecast to be commissioned by year-end 2025.
  • 10 MW Solar Project – In February 2023, Serbian company Solar S2022 announced plans to build a solar project at a site approximately 100 miles north-northwest of Belgrade.
  • 9.9 MW Solar Project – In April 2023, the Serbian Ministry Of Mining And Energy commissioned the DeLasol solar project at a site approximately 50 miles northwest of Belgrade.


Serbia imports fossil fuels (coal, oil and oil) for power generation, heating, and transportation. In 2020, Serbia[7] spent U.S. $1.35 Billion for imported crude oil and U.S. $1.18 Billion for imported electricity.

In 2021, Serbia used fossil fuels to generate 66.7% of the nation’s electricity. In 2021, Serbia spent U.S. $481 Million for natural gas and U.S. $331 Million for crude oil imports just from Russia[8],

On 24 February 2022, Russia invaded Ukraine, prompting the European Union, United Kingdom, United States, Canada, Japan, South Korea, Australia, and New Zealand to place economic sanctions on Russian imports and exports. As a result, the crude oil and natural gas prices increased by over 50% from May 2021 to May 2022.

Serbia has significant undeveloped renewable energy resources including biomass, hydropower, solar, and wind. Renewable energy project development is surging in Serbia, ensuring energy security and to limit the impact of high cost fossil fuel imports.

Jack Kerfoot

Website – “Our Energy Conundrum”


Jack Kerfoot is a scientist, energy expert, and author of the book FUELING AMERICA, An Insider’s Journey and articles for The Hill, one of the largest independent political news sites in the United States. He has been interviewed on over 100 radio, podcast, and television stations from New York City to Los Angeles on numerous energy related topics.


[1] Serbia Population (2023) – April 9, 2023,

[2] Gross Domestic Product By Country 2022 – Worldometer

[3] The Observatory of Economic Complexity (OEC) – Serbia

[4] Carbon Brief – “2015: Tracking Country Climate Pledges”

[5] World Bank, “Access To Electricity (% Population) –Serbia

[6] Our World In Data, Serbia: Energy Country Profile by Hanna Ritchie and Max Roser

[7] The Observatory of Economic Complexity (OEC) – Serbia Imports

[8] The Observatory of Economic Complexity (OEC) – Russia/Serbia Trade

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