Page 156 - bne IntelliNews SE Outlook Regions 2024

The largest company in Serbia’s energy sector is Gazprom-owned oil and gas company NIS. The company has adopted a business plan for 2024 that outlines capital investments totalling RSD59.7bn (€509mn).
NIS is poised to implement projects that contribute to reducing carbon emissions, aligning with the ambitious targets set forth in the Paris Agreement.
NIS announced on December 21 that the primary areas of focus include maintaining a stable supply to the market, executing a capital overhaul of the Pancevo oil refinery, sustaining oil and gas production, preparing for various macroeconomic scenarios, and implementing an ambitious investment programme.
Despite the dominant role of fossil fuels, investments into renewables are also underway. The government was reported in mid-2023 to be seeking strategic partners for the construction of 1 GW of wind plants. This follows the same launch for partners for 1 GW of solar plants. This decision is driven by the projection that Serbia might become a significant electricity importer by 2026.
In the hydropower sector, Serbia’s Ministry of Construction, Transport and Infrastructure is working towards the construction of a hydropower plant (HPP) system on the Ibar river. In November, the ministry unveiled a draft proposing amendments and additions to the spatial plan of the special-purpose area for the project.
The project dates back to 2010, when EPS and the Italian company Seci Energia forged a joint venture – the Ibarska HPP. The project was initially estimated at approximately €285mn. However, despite the initial momentum, progress on the project stagnated. In 2022, the joint Serbian-Italian company, with EPS holding 49% and Seci Energia holding 51%, initiated a process of liquidation.
The Bistrica Reversible Hydro Power Plant (RHPP) also ran into difficulties. It was reported in 2023 that Serbia is now planning to work with Japanese companies on the plant after encountering problems with the Chinese companies it had originally planned to work with.
7.11 Energy & Power - Slovenia
In October 2023, total net electricity generation in Slovenia was 867 GWh. Compared to September, it decreased by 29%, and compared to October 2022 it increased by 64%. Generation in HPPs was 21% higher and in thermal power plants 95% higher. In October the NPP was working only for a few days.
In 2022 the share of energy from renewable sources (RES) in gross
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