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Serbia To Produce 40 Percent Of Its Electricity From Renewable Energy Sources By 2040

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Cooperation between Israeli and Serbian companies in the field of renewable energy sources (RES) and energy transition, which is a burning global issue, is another step forward in improving investment and overall economic ties between Serbia and Israel, said Marko Čadež, President of the Chamber of Commerce and Industry of Serbia at the Conference “Renewable Energy Sources – Opportunities for Serbia and Israel”.

The plan is to have 40 percent of electricity produced from RES in our energy mix by 2040. To achieve that goal, Israeli experience will be valuable, said Minister of Mining and Energy Zorana Mihajlovic.

Almost every company in Serbia is trying to integrate RES into its business plans in some way, reducing energy costs. It is part of doing business, it is not easy, it is not simple, but the modern legislative framework provides significant opportunities, said Čadež. He also expects new Israeli investments in this sector.

Israeli Ambassador to Serbia Yahel Villan pointed out that economic relations lag behind good bilateral cooperation, but that efforts of embassies, and the Representative office of CCIS in Jerusalem, are directed to the development of joint affairs and partnerships between companies. According to him, the RES sector has great potential for cooperation.

“We are working on bringing bigger investments and Israeli companies in Serbia because there is a huge potential here. One company is already working here”, said Vilan and thanked CCIS for opening the Representative Office in Jerusalem, expecting that it will encourage investments.

Aleksandar Nikolic, Director of the CCIS Office in Israel stated that Israeli experiences and solutions in the use of RES and Serbian infrastructure and knowledge are a winning combination for successful projects in this sector.

Read more...

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The conference in CCIS gathered a large number of energy experts, company representatives, and the business community who had the opportunity to meet Israeli investors interested in investing and partnering in renewable energy sources in Serbia, examples of Israeli technology, and increasing efficiency.

The use of solar and wind energy in the energy mix of Serbia is currently only 3.5 percent. In 2022 the growth of RES potential is estimated at 8 percent, at the world level.

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