Energy transition, development of renewable sources and ways of financing decarbonization were the main topics of the first two panels at the Expert Conference "Energy, Projects, Security" on Zlatibor.
Aleksandar Jakovljević, Executive Director for Investments and Development at the Electric Power Industry of Serbia, pointed out that the strategic investment project construction of the PSHPP "Bistrica", which will enable the connection of new 1,500 MW from renewable sources, has entered one of the most important phases of implementation.
- The green transition is not just about renewable energy projects, but about the obligation to ensure security of supply, and we are now providing that security from coal. The two processes need to be synchronized. We will invest in mining over the next 10 years to ensure a safe supply for citizens. This is a transformation of energy, the entire economy and the entire society. An active role of the distribution and transmission system is needed, changes in the way of heating, transport, but also consumption management –Jakovljević explained at the panel "How to reach a green region – new RES projects, chances of decarbonization".
Milan Laković, Executive Director for Finance of EPS, pointed out at the panel "Financial Challenges of the Energy Transition" that in order for the decarbonization process to be sustainable, it is necessary that all factors be included, because the total capital costs necessary for the goals reach EUR 27 billion by 2050.
- It is also important to ensure proper structuring of financing, favorable interest rates and a sufficiently long repayment period," said Laković.
He emphasized that it is not possible to implement the green transition from one's own resources and that it is vital for the state, international development banks, financial institutions and commercial banks to be involved and certainly entry into the capital market.
- The goal of EPS is to enter the domestic and foreign capital markets. First of all, we expect to receive a credit rating, and if there are adequate RES projects, conditions for the issuance of our first green bonds on the Serbian capital market will be created," Laković said.
He added that EPS's significant resources for the development of renewable energy projects include the land it owns and its grid connections.
The oldest units in thermal power plants will have to be withdrawn from the grid, and while they are on the grid, solar and wind farms can be developed. We need to be more agile and present in the market and develop relationships with private investors. EPS is ready to enter into a joint investment and a fair contract for the purchase of electricity, but also to buy mature or completed RES projects," Laković explained.
