Serbia Strengthens Clean Energy Efforts with EBRD and EU Support

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) have significantly scaled up their support for Serbia’s transition to clean energy [1]. The two entities are jointly funding the reconstruction of the Vlasinske hydropower cascade, a critical step in modernizing Serbia’s energy infrastructure.

The EBRD is providing a loan of up to €67 million to Serbia’s national electricity company,  Elektroprivreda Srbije (EPS), while the EU is contributing a €15.4 million investment grant under the Western Balkans Investment Framework (WBIF). Originally constructed in 1946, the Vlasinske hydropower cascade is one of the oldest hydropower plants in Serbia1. This investment will extend the plant’s operational life and boost its installed capacity by 8 MW, increasing its total capacity from 129 MW to 137 MW.

Matteo Colangeli, the EBRD’s Regional Head of the Western Balkans, emphasized the importance of this project for Serbia’s energy security and the increase in renewable energy’s share of the generation mix. He stated, “Serbia is making progress on its green energy transition, which is crucial to maintaining economic competitiveness and raising environmental standards”.

The EBRD continues to be a key partner in supporting Serbia’s transition from coal to clean energy. This includes financing renewable energy projects, offering technical expertise, and helping to modernize the country’s energy infrastructure to meet green energy goals and EU environmental standards1. The EBRD has invested more than €9.8 billion through 372 projects in Serbia to date.

Sources: 

[1] EBRD and EU support Serbia’s transition to clean energy

https://www.ebrd.com/news/2025/ebrd-and-eu-support-serbias-transition-to-clean-energy.html

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