14 Jun 2022

Serbia Takes Bold Steps Towards Renewable Energy

Serbian Mining and Energy Minister Zorana Mihajlovic revealed last week an aggressive national climate and energy plan that aims to increase the share of renewable energy sources (RES) fivefold to 15% by 2030, reducing dependency on coal and take Serbia into carbon-neutrality by 2050, in line with EU targets.  The EUR 35bn plan focuses on solar, wind and hydropower project and is set to mark a fundamental shift that should reshape its energy sector over the coming decades.

She said the new energy and mining legislation that came into effect in 2021 is historic in its focus on RES and energy efficiency, which is entirely aligned with EU law and provides for a strong framework in support of the ambitious energy projects ahead.

Commenting on the developments, Ognjen Colić, partner and head of the energy practice at Gecić Law, said: “We are optimistic and see exciting times ahead.  The announced strategy is clear in showing the strong determination and sense of urgency with which Serbia aims to tackle these vital issues.  The task at hand is not only about addressing climate change, but also laying the foundations of an entirely new economy.  This momentum is likely to channel investment in green projects that will in turn show the tangible benefits in the form of new jobs, better standard of living and economic growth.  This path also mirrors the EU’s plans and brings us closer to a vision of a unified carbon-neutral continent by 2050.  We are pleased that our firm is at the center of these exciting developments, both through our contribution to reshaping the regulatory framework through public discussion, and our ground-breaking legal work on numerous projects in the field of renewable energy.  With all this experience behind us, we are pleased that we are just starting and well-positioned to deliver even greater results in the years to come.”