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Serbia aims to achieve 40% of renewable energy by 2040

Serbia’s Deputy Prime Minister and Minister of Mining and Energy, Zorana Mihajlovic, said that the country’s goal is to have by 2040 at least 40 per cent of the energy obtained from renewable energy sources (RES) and more than 50 per cent by 2050.

“We also expect that emissions of harmful gases in the next 10 years will follow the EU average,” she said at the Conference on RES, organised by the Association of Renewable Energy Sources under the auspices of the Ministry. “We are facing great challenges, but everything we do, we do together with local governments, the business community and citizens, which is best seen through projects to increase energy efficiency and solar panels.”

Mrs Mihajlovic pointed out that the adoption of the new legal framework laid the foundation for the implementation of the new energy policy, which brings a different structural economic growth and development.

“The issue of decarbonisation, green energy transition is a global and generational issue and as such it requires a unique answer and joint action,” she continued. “It is a question of health and the environment and people, it is both the potential and the opportunities it provides are almost immeasurable. It is also a new model of growth, a new industrial revolution. I am talking about new investments, new green jobs. The value of the projects of the new investment cycle is 17 billion euros, of which at least five will be for RES.”

And when it comes to financing, Minister Mihajlovic held a meeting with the delegation of the European Bank for Reconstruction and Development (EBRD) attending the signing of the guarantee agreement for the project Smart Meters, as well as the loan agreement for the same project between Elektrodistribucija Srbija and EBRD.

On this occasion, Mrs Mihajlovic pointed out that the goal of the state is for every part of Serbia to have a constant and reliable supply of quality electricity, and that investments in the distribution network will contribute to that.

“Today, Serbia makes losses in the distribution network, about 200 million euros a year and it is a pity that that money goes to waste, instead of investing it in further development. Installing smart meters is one way to reduce those losses,” she underlined. “But, that is not the only advantage of this project, it will contribute to the reduction of carbon dioxide emissions by five thousand tons per year, but also help everyone who is on the path of the energy transition, ie prosumers who will produce and consume energy from renewable sources. In order to live well, we must have quality electricity, citizens in certain parts of Serbia know that best. Today, we signed a contract for the first 40 million euros, the state gave guarantees for that, we will talk to all international partners on how to invest more in the distribution network because that is the basis for being energy secure.”

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