The Association Renewable Energy Sources of Serbia has published the guideline for investors named ‘RES Serbia Guidebook for Investors in Renewables in Serbia’ that was developed under the European Bank for Reconstruction and Development (EBRD) technical assistance.
The guideline is intended for investors with aim of providing insight into currently available information, with a focus on Serbian regulations, environmental protection, the procedure for issuing permits, sources of financing, and incentive systems.
The authors of this guideline are Nenad Jovanović, PhD , Senior Energy Modelling Consultant at Mott MacDonald and Predrag Vidaković, founder at Vidakovic law office.
Besides Regulatory framework overview in Republic of Serbia, the guideline also consists of eight chapters:
- Wind project (general)/Solar power plant (general)
- Business model, with finances
- Development
- Construction
- Operation
- List of Laws and bylaws
- List of institutional stakeholders and their rules
- Serbia Tax Overview
During the finalization of this document, of the four wind farm projects that were successful in the auctions, two began construction and one signed a financing agreement, while all winners of the solar auctions built their projects and started with commissioning. Including currently operating power plants, it seems that reaching the 1 GW mark is possible in the near future.
Additionally, to boost the solar energy utilization, Serbian government has just recently in 2023 conducted tender procedures for selection of a strategic partner to deliver 1 GW of self-balancing solar plants by 2028.
The Association would like to thank EBRD for its support in the development of this guideline, which should point out to new investors the complexity of the development of RES projects in Serbia, support to understand regulatory and procedural requirements and enhance aligning with those, as well as the need to look at market opportunities, investment environment and complete regulations.
Bearing in mind the frequency of amendments changes that directly affect the development and implementation of projects, the Association RES Serbia will through its communication channels inform the membership, as well as the interested public about the changes, and the guidebook will be periodically updated.
The first significant changes that may affect the position of new investors are expected after the adoption of the amendments to the Energy Law, which are expected at the end of this year. We will inform all interested parties about the amendments to the Energy Law through RES Serbia communication channels.
Below you can find complete document: