Serbia is developing a large-scale solar and battery storage programme supported by export financing from South Korea. The plan combines 1.2 GWp of solar capacity with 1 GW of grid connection capacity. It also includes a 200 MW / 400 MWh battery energy storage system (BESS).
Funding for the project totals €900 million, provided through export financing from South Korea’s K-Sure. Hyundai Engineering and UGT Renewables have been selected to carry out the engineering, procurement and construction (EPC) works. The programme is structured around government energy policy, export-credit financing, international engineering expertise and state utility ownership within a single investment framework.
Ownership structure and integration into Serbia’s power sector
After completion, the facilities are expected to be transferred to Elektroprivreda Srbije (EPS). The arrangement is positioned as part of Serbia’s public power-sector modernization rather than a conventional private-sector renewable development. This framework is intended to provide certainty for financiers and suppliers while increasing emphasis on efficient public-sector implementation.
Generation profile and role of battery storage
The programme is expected to generate around 1.5 TWh of electricity annually. Battery energy storage is included to improve grid flexibility for managing midday solar output. It is also designed to reduce curtailment risks and support system balancing for both EPS and the national transmission operator EMS.
Delivery requirements across permitting, grid and procurement
The initiative is described as a test of Serbia’s ability to coordinate land acquisition, permitting, grid integration, public procurement, international financing and long-term asset management. Implementation depends on aligning these elements across the project lifecycle. The scale of the programme places operational execution at the center of delivery planning within Serbia’s power system context.
