The Serbian Ministry of Energy and Mining has concluded its second renewable energy auction, awarding 645 MW of capacity across 10 solar and wind projects.
This exceeds the original target of 424.8 MW, including 124.8 MW of solar and 300 MW of wind capacity.
The successful projects received significantly lower prices than the maximum allowed bids. Solar projects were awarded €50.9/MWh (below the €72/MWh cap), while wind projects secured €53.5/MWh (below the €79/MWh cap). These competitive bids represent a substantial reduction in expected costs, with a total investment of €782 million for the winning projects.
Developers will sign 15-year Power Purchase Agreements (PPAs) with the Serbian government. This auction follows the success of the first auction, which allocated 715 MW of capacity and attracted over €1.1 billion in investment.
Elektroprivreda Srbije, the state utility, is set to commission its 9.75 MW Petka solar project this month, with plans to add 1 GW of solar capacity paired with battery storage over the next three years.
Serbia aims to exceed 1.5 GW of renewable energy capacity by 2026, more than doubling the 753 MW in operation as of September 2024.
Comments