Serbia
CWP Europe continues to play a pivotal role in Serbia's transition towards a more sustainable energy future. Through partnerships, innovative projects, and a steadfast commitment to sustainability, CWP remains at the forefront of Serbia's renewable energy revolution.
Overview
The adoption of competitive bidding systems is central to Serbia's renewable energy transition. Inaugural auctions held in June 2023 demonstrated success, where developers competed to supply electricity from wind and solar projects at competitive rates, incentivized by state support such as market premiums. The regulatory framework for renewable energy sources (RES) reflects Serbia's efforts to create an attractive investment climate for renewable energy.
These initiatives are expected to yield positive outcomes, including reduced electricity costs for consumers and increased investments in renewable energy infrastructure. Serbia aims to achieve a 33.6% share of renewable energy sources by 2030, with plans to expand wind and solar capacity through upcoming auctions.
Serbia is steadily embracing renewable energy as a vital component of its sustainable development strategy. With a population of 6.7 million, the country is capitalizing on its significant potential for renewable energy production, driven by recent policy changes and regulatory reforms.
Despite its current reliance on brown coal, accounting for over 50% of its total installed capacity of 8.5 GW, Serbia is committed to transitioning towards cleaner energy sources. This commitment aligns with its aspirations for EU membership and the goal of phasing out coal by 2050. In the next three years, Serbia plans to add 1,300 MW of renewable energy capacity from wind and solar, which is three times larger than the currently installed capacity from those two sources.
Market Opportunity
Since 2009, CWP has been a key player in Serbia's renewable energy sector, spearheading initiatives to harness wind and solar power. With a dedicated team of 51 experienced professionals, CWP is committed to implementing sustainable energy solutions tailored to the local landscape.
At the forefront of CWP's contributions stands the Čibuk 1 wind farm, Serbia's largest utility-scale commercial wind project, with a capacity of 158 MW. Developed by CWP, this landmark project significantly bolstered Serbia's renewable energy capacity, marking a crucial milestone in its transition towards a more sustainable energy future.
Overall, Serbia's commitment to renewable energy underscores its dedication to a sustainable future. By embracing renewable energy, Serbia aims to enhance energy security, mitigate environmental impacts, and stimulate economic growth. Collaborative efforts among government, investors, and energy companies are crucial in driving successful energy transition efforts and steering Serbia towards a brighter, more sustainable future.
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Creating value and opportunities in the communities where we operate
Our goal is to achieve transformative impact on the local communities in Serbia through the development of green energy projects and by contributing to the development and prosperity of the communities we operate in. At the core of our socially responsible business lies the building of trust and long-term relationships, innovation, and the desire for co-creating value and positive change.
We empower young people through education and mentoring, collaborating with the PEXIM Foundation for scholarships and employment opportunities. Our support extends to school renovations, materials, and additional education programs.
Beyond renewable energy projects, we foster a connection between humans and nature. Our Eco Academy program encourages love for nature and responsibility toward living beings. The Re:connect Festival strengthens community initiatives and associations while emphasizing the connection with oneself and nature.
We support artists, cultural associations, and provide artistic opportunities for children in smaller communities. Our initiatives include theater performances, music, painting, dance classes, and art equipment donations. We proudly back young artists from Novi Pazar, organizing exhibitions to showcase their talent and creativity.
In collaboration with Ethno Mreza, we empower women in smaller communities through authentic handicraft training. We support cultural events, donate work equipment, and create spaces for skill exchange.
We collaborate with local initiatives, providing financial and mentoring support for positive environmental, cultural, and health-related projects. The Ideas That Drive Change competition, conducted with the Local Foundation Pančevo, distributed two million dinars among seven impactful projects.
