EPS and Vetrozelena Sign Agreement on Buyout of Electricity – Biggest Wind Farm for Which Incentives Are Allocated on Network at End-2025

The JSC Elektroprivreda Srbije (EPS) and the company Vetrozelena have signed the Agreement on the Buyout of Electrical Energy and the Taking on of Balance Responsibility and the Agreement on the Market Premium. According to the current announcements, Vetrozelena should start working in the final quarter of 2025, the Ministry of Mining and Energy announced.

The agreements were signed by Dusan Zivkovic, the acting CEO of EPS, and Qitao Gao and Maja Turkovic, the directors of Vetrozelena.

These are the first agreements based on the auctions carried out by the Ministry of Mining and Energy, which will enable a greater amount of produced green energy for the supply of the local market, said the minister of mining and energy of Serbia, Dubravka Djedovic Handanovic.

– The wind farm Vetrozelena is the first of the nine power plants running on RES in the market premium system and the biggest power plant for which incentives have been allocated so far, because it will produce electrical energy for around 180,000 citizens, at the lowest price at the auction of around EUR 64 per megawatt-hour, which is lower than even the current market price. The agreements signed today are an example for other projects as well, because all the produced energy will be used for the supply of our citizens, and not for export – said the minister.

She also reminded that, one year before, there had not been an adequate regulatory framework that would incite investments in capacities from RES which use wind and solar energy, nor the possibility of investors getting adequate security for the balancing of energy.

– The construction of new power plants from RES which will be in the incentive system entails more than EUR 1 billion in investments, which will have a positive impact on the economic growth. Also, the state will realize additional income between EUR 12 and 28 million a year, due to the prices achieved during the bidding at the auctions – said Djedovic Handanovic.

She said that the system of market premiums provided the possibility of inciting private investments, but that it was also necessary for EPS to be an active participant in this process.

– EPS is also working on its projects in RES, such as the wind farm Kostolac and solar power plants, which is important so that we would get as many green megawatts as possible, which are important for the energy transition and for a reduced payment of fees on CO2 emissions in the future. With these investments, we are slowing moving away from using fossil fuels, but not at the expense of the energy system. Instead, we are preserving the stability in the production and transfer of electrical energy – the minister said.

Dusan Zivkovic, the acting CEO of EPS, said that EPS was dedicated to investments in the construction of power plants which use RES and that it thereby strengthened its production portfolio and position in the market.

– The agreement with the wind farm Vetrozelena is a confirmation that EPS is a reliable partner for investors in green energy and that auctions are the right way for the development of the sector of renewable energy sources – Zivkovic said.

Elektroprivreda Srbije ad Beograd

Vetrozelena doo Beograd

Ministarstvo rudarstva i energetike Republike Srbije

Dušan Živković

Qitao Gao

Maja Turković

RES

wind farm Kostolac

Agreement on the Buyout of Electrical Energy and the Taking on of Balance Responsibility

Agreement on the Market Premium

wind farm Vetrozelena