In order to respond to the growing energy needs and decarbonization goals, with the imperative of preserving energy security, state-owned power companies must diversify energy sources, as well as sources of financing. Every country expects power companies to ensure energy security, and this is also the case in our region. Under the light of the expectation that electric power companies will be the guarantor of energy stability, we must look at the role of state-owned power companies, as well as the role of private capital, in such a way that energy security and energy sovereignty of each country are not jeopardized at any time - said Dušan Živković, General Manager of Elektroprivreda Srbije, at the Jahorina Economic Forum.
- Elektroprivreda Srbije has recognized all these processes and sees diversification through the continuation of development of hydro capacities and new RES projects. We are providing rehabilitation of 80 percent of hydro power plants, and by modernizing thermal power plants, we will preserve key thermal capacities, while shifting the focus to renewable sources with small solar power plants, wind farms, with a large 1,000 MW solar power plant project. Our strategic project is the Pumped-Storage Hydro Power Plant Bistrica, which we are developing with foreign partners – said Živković.
The head of EPS pointed out that in addition to diversifying energy sources, it is also necessary to diversify the sources of financing.
- In this way, EPS ensures energy security and a stable supply to our consumers, and as the largest company in the region, we can be in a position to help others if necessary. In addition, with partners from the region, such as Elektroprivreda Republike Srpske, we are developing the HPP project on the Upper Drina, and there are potentials to participate with others in the construction of wind farms and solar power plants. It is a way to position ourselves as a company that wants to lead this part of the region forward, to impose new ways of thinking and new models of functioning. EPS is a company that has the capacity to lead the region in times of energy transition – Živković concluded.
