Serbia plans to increase the amount of production from renewable energy from the current 3.5% to 40% by 2040, Deputy Prime Minister, Minister of Mining and Energy of Serbia Zorana Mihajlovic said, speaking at the conference "Renewable Energy: Serbia's Potential - an Opportunity for Israel".

Serbia Plans to Increase Production From Renewable Energy to 40% By 2040

Serbia plans to increase the amount of production from renewable energy from the current 3.5% to 40% by 2040, Deputy Prime Minister, Minister of Mining and Energy of Serbia Zorana Mihajlovic said, speaking at the conference “Renewable Energy: Serbia’s Potential – an Opportunity for Israel”.

“Despite all the difficulties we have faced, we continue to implement our plan to have at least 40% of our capacity from renewable energy sources by 2040,” Mihajlovic was quoted as saying by the ministry.

Before the conference, the minister told reporters about the start of negotiations with Russia on a new gas contract, as well as about new projects in the sphere of the production from renewable energy in the country.

“These are not easy negotiations. We estimate that the price cannot remain at $270 per 1,000 cubic meters, but will definitely be well below $950, the market price,” she said, noting that it is seen as an extension of the existing contract until the end of the year, so and signing a new one.

On January 1, Gazprom began supplying gas to Serbia via a new route. The gas from Russia is transported via the Turkish Stream offshore gas pipeline and further through Turkey. Then, through Bulgaria’s national gas transmission system, it enters Serbia.