Djedović Handanović and Farrell discussed energy cooperation between Serbia and the USA

"We aim to decarbonize our energy sector by 2050, and the strategic documents that are currently in the adoption process outline the directions and plans for developing the energy sector in the coming decades." Over the next ten years, the energy industry requires investments totaling around 15 billion euros. We have identified priority projects in all areas, combining both public and private sector investments in order to realize our strategic goal - energy security at the lowest cost for citizens and the economy", said the Minister.

The Minister further highlighted that the capital projects identified under the Baseline of the Energy infrastructure Development Plan until 2028 with Projections until 2030 include the construction of self-balanced solar power plants with a capacity of 1 GW.

"Solar power plants with a capacity of 1 GW are currently under construction through a strategic partnership and will remain under the ownership of the Republic of Serbia. The selection of our partner followed a transparent process, strictly adhering to the principles of public bidding, based on the collected bids, the principles of transparency, non-discrimination, environmental protection, and efficiency, as evidenced by the good response of bidders to the public invitation. The construction of these solar power plants will significantly increase capacity from renewable sources," she explained.

 The Minister pointed out that Serbia has made substantial progress in the legal framework and the implementation of reforms, especially in the gas sector and the field of renewable energy. Serbia has achieved significant progress, which was also recognized by the European Union.

"By conducting auctions for market premiums, we have secured investments in the construction of over 700 megawatts from RES, primarily wind. This has been achieved while maintaining system stability, and in the next three years, we plan to support a total of 1,300 megawatts of new wind and solar power plants with these incentives." One of our priorities is the construction of pumped storage hydro power plants, primarily PSHPP Bistrica, while a preliminary feasibility study is underway for the PSHPP Djerdap 3 project, in order to establish the technical and economic basis for the realization of this project", stated Djedović Handanović.

Farrell congratulated on the efficient implementation of the Serbia-Bulgaria gas interconnector construction project. She emphasized the importance of gas supply diversification for energy security and economic predictability. Furthermore, she conveyed the interest of American companies in investing in Serbia's energy sector.