EBRD Supports Serbia’s Successful Renewable Energy Auction

The European Bank for Reconstruction and Development (EBRD) has helped facilitate the support of the Ministry of Mining and Energy in the design and organization of Serbia's second renewable energy auction. Investors strongly supported the auction, co-financed by SECO, resulting in competitive prices for solar and wind power plants.

Strong Investor Interest and Competitive Prices

The second round of Serbia’s renewable energy auction saw 41 project proposals, surpassing the 424.8 MW quota. The winning projects collectively have a capacity of 645 MW. Among the offers, seven were wind farms, and 34 were solar power plants. The auction saw competitive pricing, with solar starting at €50.9 per megawatt-hour and wind at €53.6.

EBRD's Role in Serbia's Renewable Energy Growth

Matteo Colangeli, EBRD’s Regional Director for the Western Balkans, said, "We are pleased to have supported the Ministry of Mining and Energy in designing and implementing these auctions, following the successful experience with the first round conducted in 2023."

He added, "The results speak for themselves - high investor interest and competitive prices. Through this model, we helped Serbia to establish an efficient and market driven system to continue scaling up its renewable energy capacity, attracting investments and strengthening its energy security.”

Serbia's Minister of Mining and Energy, Dubravka Đedović Handanović, stated that the second round of auctions was highly successful in terms of both capacity and pricing. She highlighted that the affordable renewable energy generated by the selected plants would benefit the economy and citizens. With seven wind farm projects and 34 solar power plant applications submitted, she noted that the incentive model would likely eliminate the need for subsidies, as any excess profits from the plants would be returned to the state, provided market prices remain higher than those offered in the auction.

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Continued Support for Renewable Energy Auctions

Additionally, the EBRD has helped 16 countries with renewable energy auctions, awarding over 8,100 MW of capacity in eight countries. The EBRD’s ongoing support helps more countries drive the shift to clean energy while boosting their energy security.