Serbia’s selection process for the proposed Đerdap 3 pumped-storage hydropower project has advanced with only one consortium qualifying for the second stage. A government-appointed evaluation committee reviewed six submissions and judged the Bechtel-led group to be the only candidate meeting all technical and administrative requirements in the public invitation.
The second-stage qualification follows an eligibility screening intended to precede a more detailed competitive procedure. Five applicants did not progress, leaving Bechtel in a stronger position for the next phase, although qualification does not amount to a construction award or a final investment decision.
Expression-of-interest timeline and participating companies
Serbia launched the expression-of-interest process in early June, with applications due by 25 June 2026. The submissions included Fresh Development with Serbia’s LDS, and Bechtel UK Holdings International paired with Turkey’s ENKA.
Other participants named in the process were Voith Hydro, Channell Commercial Corporation, Moravacem, and Global TBM Company, which operates under the Robbins brand. The first stage was designed to test eligibility before moving to a later competitive step.
Planning procurement and technical documentation work
A separate procurement is under way for planning documents and part of the technical documentation required for the project. The work is expected to support definition of plant capacity, reservoir arrangement, environmental footprint, geological conditions, grid connection, and construction cost.
The planning and technical documentation process is positioned as a prerequisite for shaping key project parameters ahead of subsequent procurement steps. This includes inputs needed to establish how the facility would connect to the power system and what costs would be used in later decisions.
Bechtel’s prior involvement and regional infrastructure activity
Bechtel has been associated with Đerdap 3 for several years. In 2022, the US engineering and construction group said it was prepared to finance a preliminary feasibility study.
The company has also been involved in infrastructure discussions elsewhere in the Western Balkans. It has been considered for Bosnia and Herzegovina’s Southern Gas Interconnection and signed an agreement with Albania’s Ministry of Infrastructure and Energy in 2020 concerning preparatory work for the proposed Skavica hydropower project.
Role in power system flexibility and bankability factors
Đerdap 3 is described as offering Serbia large-scale flexibility for balancing wind and solar generation. It is also linked to managing evening demand and supporting cross-border electricity trading.
The project’s bankability is stated as depending on a realistic construction budget, hydrological design, environmental approval, market revenues, and a clear division of risk between the state, EPS, contractors, and financiers.
With only one qualified consortium moving forward, negotiations may proceed faster while increasing emphasis on independent cost benchmarking, open-book technical review, and a robust contractual structure before Serbia commits to an exceptionally capital-intensive energy asset.
