Biomass represents the most widespread source of energy in Serbia, making for around 60% of the total potential renewable energy resources. However, national biomass estimations indicate that it is not sufficiently exploited. In order to increase the share of biomass, Serbia is investing significant efforts in the development of this valuable energy resource.
In 2013, Serbia adopted the National Renewable Energy Action Plan (the “Plan”). The Plan projects that by the end of 2020 Serbia will increase exploration of renewable energy resources up to 27% (an additional 5,8% compared to 2009). The main goals of the Plan are: to reduce the import of energy, to develop the energy market in the framework of the EU energy market, and to establish an overall sustainable energy sector.
Currently, Serbia is importing significant quantities of energy, even though it has the potential to become an energy independent country. From the long term perspective, it may be expected that the import of energy will be reduced to a minimum and that Serbia will become a significant exporter of energy. Since biomass is a major source of renewable energy, it may be one of the main sources of energy production.
In order to improve the biomass market in Serbia, the Chamber of Commerce established the Green Energy Portal – the first online portal for biomass stock market in Serbia. As announced, the portal will inform professionals on all relevant facts regarding the dynamics on the biomass market, as well as allow e-trading in various types of biomass. It is expected that the portal will be activated for online transactions by the end of the year.
Bearing in mind that the Serbian Government, in cooperation with EU and international organizations, is working on attracting domestic and foreign investments through financing projects for the development of the energy sector, it is to be expected that the Serbian biomass market will continue to grow in the future.
By Milan Samardzic, Partner, and Nevena Milošević, Senior Associate, Samardzic, Oreski & Grbovic