The Government of the Republic of Serbia has adopted the Integrated National Energy and Climate Plan (INEKP) for the period up to 2030, with long-term projections extending to 2050. INEKP is crucial for achieving objectives in the areas of energy security, decarbonization, and alignment with European and global standards, while also presenting numerous opportunities for companies and investors seeking to actively participate in the energy transition.
INEKP focuses on five main dimensions designed to encompass the entire energy system of Serbia:
- Decarbonization: Serbia has committed to reducing greenhouse gas emissions by 40.3% by 2030, compared to 1990 levels. In practice, this involves an ambitious plan for 45% of the country’s electricity to be generated from renewable sources such as solar and wind. Special attention is given to private investments in this area, opening numerous opportunities for legal consultations related to agreements and regulations that govern these projects.
- Energy Efficiency: INEKP promotes modernization across all sectors, including heating, cooling, and transportation. The focus is on reducing energy consumption by investing in energy-efficient technologies. This will require adjustments to the existing legal frameworks in various sectors, including construction and industry, where legal consultations and adaptation to new standards will be necessary.
- Energy Security: This goal aims to increase the security of energy supply, with Serbia relying on the diversification of energy sources and strengthening of infrastructure. Strategic investments in energy networks and storage will be crucial for system stability, raising a range of legal issues related to public-private partnerships and regulation.
- Internal Energy Market: Integration with the European energy market is a key element of INEKP.
- Innovation and Competitiveness: The development of new technologies and the promotion of innovation are key components of the plan. Significant funds are expected to be allocated to research and development, particularly in the fields of renewable energy and energy efficiency.
The implementation of INEKP brings not only obligations but also numerous opportunities for companies seeking to invest in sustainable projects and contribute to the development of Serbia’s energy market. Serbia plans to build around 3.5 gigawatts of solar and wind power capacity by 2030, which will significantly alter the country’s energy mix, providing an ideal opportunity for investors looking to enter the renewable energy market. Additionally, projects related to the electrification of transport and the improvement of energy efficiency in households offer significant space for private investment.