Acceleration Program for Renewable Energies in Serbia (APRES), Phase I

active

The aim of this project is to support the Serbian energy sector in the context of the energy crisis. This support is part of the short-term loans of up to EUR 500 million for the Western Balkans, which Chancellor Scholz announced in November 2022 as part of the Berlin Process. The content of the project will be implemented jointly with the EBRD. The project has three main objectives: 1. Stabilization of the energy sector by improving the financial situation of EPS; 2. Rapid implementation of the RE auction mechanism for the expansion of renewable energies in electricity generation, primarily through private investments; 3. Initiation of the decarbonization of electricity generation and development of medium- and long-term planning (phase-out of coal). The loan supports the state's financial scope for action with regard to the above points and contributes to short-term stabilization of the energy sector in the largest economy in the Western Balkans. At the same time, within the framework of a policy matrix agreed with the Serbian government and the EPS, necessary steps for medium- and long-term transformation and thus sustainable stabilization are supported or accelerated.