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July 6, 2021

Serbia to invest $7.1bn in new power production capacities by 2040

Serbia plans to invest in renewable energy resources, gas-fired power plants and hydropower plants.

By Umesh Ellichipuram

The Serbian Government is reportedly planning to invest $7.1bn (€6bn) in new electricity production capacities by 2040.

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Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

The latest decision comes as the country intends to discontinue coal-fired power plants.

Reuters reported that the country currently generates 70% of its electricity from ageing coal-fired power plants. These plants are said to be the major polluters.

Serbia Mining and Energy Minister Zorana Mihajlovic said that Belgrade plans to invest in renewable energy resources, gas-fired power plants and hydropower plants over the next two decades.

Mihajlovic was quoted by the news agency as saying in an interview: “We are currently preparing a new energy strategy and we will plan how to phase out coal…It needs to be done gradually and it will take time.”

Under the strategy, the country could generate up to 50% of electricity from renewable sources by 2040, Mihajlovic said.

Around 45% of the investment will be sourced from the private sector or include private-public partnerships.

In September 2019, Israel-based renewable energy projects developer Enlight Renewable Energy along with its Serbian partner New Energy Solutions opened its Kovacica wind farm in Serbia.

Equipped with 38 wind turbines, the wind facility can generate more than 104MW of clean energy, which will be sufficient to power 68,000 households in the region.

With a capacity to offset approximately 250,000tpa of carbon emissions, the project was completed with an investment of €189m.

The European Bank for Reconstruction and Development supported the construction of the wind farm with a €49m loan.

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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