Contract for planning and technical documentation
Serbia has started formal project-documentation work for the planned Đerdap 3 pumped-storage plant. The Energy Ministry signed a contract with the Jaroslav Černi Water Institute for planning and technical documentation. The work is targeted for completion by the end of 2029. The documentation step follows decades of discussion around the project.
Planned capacity and indicative investment
Đerdap 3 is envisaged with up to 1,800 MW of capacity. The indicative investment value is around €2.6 billion. The project’s development is moving from concept discussion toward engineering preparation through the current documentation contract.
Regional coordination and US interest
Serbia is also discussing the scheme with Romania, citing the project’s Danube location. Negotiations are under way with Bechtel, which submitted the sole valid U.S. expression of interest.
Role in power balancing amid renewables growth
The project has gained additional relevance as Serbia adds wind and solar generation. Pumped storage would be able to absorb electricity during low-price or surplus periods. It would also generate during evening scarcity conditions, while providing balancing and reserves.
Market experience and financing constraints
Serbia has experienced negative renewable-heavy prices and sharp regional price spikes. These market outcomes are cited as strengthening the commercial logic for large-scale flexibility. Financing remains the main challenge for a project estimated at €2.6 billion, which would likely require long-term debt, strategic investors, and potentially public support alongside market revenues.
Timeline beyond engineering work
Construction is expected to remain years away. The new technical work is intended to move Đerdap 3 closer to becoming a financeable infrastructure project rather than a long-standing concept.
