serbia

Engineering services as strategic infrastructure: How EU accession, banking discipline and private capital are re-shaping Serbia’s engineering economy

Engineering-related business services sit at the core of Serbia’s EU-accession economy, yet they remain structurally under-analysed because they do not present themselves as a headline sector. They do not dominate GDP tables, they do not absorb large volumes of bank credit, and they do not announce billion-euro projects under their own name. And yet, by […]

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Serbia power sector investment briefing: CAPEX pipeline, grid stress and return sensitivity

From an investor perspective, Serbia’s power sector presents scale and growth potential, but also a layered risk profile shaped by legacy infrastructure, evolving market rules and system constraints. Total installed renewable capacity has reached approximately 3.9 GW, reflecting a 22 percent year-on-year increase and a 36 percent expansion over the past decade. Achieving the 45 percent renewable electricity share by

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Serbia energy sector and EU accession: Market reform, system constraints and credibility tests

Energy has become one of the most strategically sensitive components of Serbia’s EU accession process, not because of legislative transposition alone, but because electricity markets now function as a real-world test of regulatory discipline, institutional independence and economic resilience. Chapters related to energy, competition, climate policy and state aid converge in the power sector, making

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Serbia sees strong renewable growth while strengthening gas and oil infrastructure

Serbia recorded a strong surge in wind and solar power last year, with combined capacity rising 45% to 1.14 GW, according to the Ministry of Mining and Energy. This growth is expected to continue in 2026, with roughly 240 MW of additional renewable capacity forecast to come online. Between December 2024 and November 2025, Serbia’s

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Serbia moves to fast-track SMRs as power demand rises and coal generation declines

Serbia is preparing emergency legal amendments to enable the construction of small modular reactors (SMRs), as rising electricity consumption and weakening domestic generation raise concerns at the highest political level. The announcement was made during a government session, where President Aleksandar Vučić warned that the national electricity system is approaching a critical threshold. Two parallel

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Serbia: MOL to acquire majority stake in NIS in €900M–€1B deal

Hungarian energy group MOL is set to acquire a majority stake in Serbian oil company NIS, with the transaction estimated at €900 million to €1 billion, according to Serbian President Aleksandar Vučić. The deal comes as US authorities temporarily extended special operating permissions for NIS, which remains under sanctions due to its Russian ownership structure.

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Serbia to advance Bistrica pump-storage hydropower project to boost renewable integration

Serbia is preparing to advance the long-planned Bistrica pump-storage hydropower project, with initial preparatory activities expected to begin later this year. Full construction will depend on the issuance of a building permit, which authorities anticipate obtaining in 2027, according to Energy and Mining Minister Dubravka Đedovic. The next phase of the project hinges on finalizing

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Serbia seeks to strengthen control of NIS amid ownership restructuring with MOL and GazpromNeft

Serbia is positioning itself to regain greater influence over oil company NIS as part of a broader ownership reconfiguration involving GazpromNeft and Hungary’s MOL. Minister of Mining and Energy Dubravka Đedović stated that all assets majority-owned by GazpromNeft, including Petrohemija, will be addressed within the framework of a future purchase agreement for NIS. She explained

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Serbia: US extends NIS operating license until 20 February under strict conditions

Serbian oil company NIS has been granted additional time to continue its operations after the United States extended its operating authorization until 20 February, according to the Office of Foreign Assets Control (OFAC). The temporary approval allows NIS to remain active but only under a strictly defined and restrictive framework. US authorities clarified that all

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SEEPEX futures after 2025: Progress without critical mass

The Serbian power market entered 2025 with a sense of momentum. Forward trading volumes had increased sharply, institutional participation had broadened, and futures contracts were firmly embedded in hedging practice. Yet beneath the positive trajectory lay a more sobering reality. Growth, while real, had not yet delivered critical mass. SEEPEX futures were improving, but they still could

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