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SEE to see energy investment of “EUR 240bn”

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Costis Stambolis says that a total of EUR 240bn are planned to be invested in the construction of energy infrastructure in South East Europe by 2020.

The executive director of the Institute of Energy for South East Europe (IENE) spoke in Belgrade on Monday evening.

According to Stambolis, counting the energy efficiency projects, the figure would reach EUR 300bn.

Taking part in the regional conference on shaping a new energy future for South East Europe held in Belgrade, Stambolis pointed out that joint investments in energy infrastructure are necessary, as well as the continuation of the liberalization of the energy market.

Stambolis added that due to high prices of classic energy products, one should turn to a greater use of renewable sources, energy efficiency and use of smart electric grids.

A total of 21.4 percent of regional energy is produced by renewable energy sources, which is a sustainable percentage, Stambolis said, adding that the plan is to increase that percentage to 25 by 2030.

Expert of the Oxford Institute for Energy Studies Aleksandar Kovacevic pointed out that the South East European region is poor in energy products and resources.

“That is why a stronger cooperation of regional energy markets was necessary,” Kovacevic said, adding that energy infrastructure in this part of the world is critical and needs to be modernized and sustainable.

The two-day energy conference will continue Tuesday with a series of panels on issues of investments in energy, liberalization of the energy market, energy efficiency, and renewable energy sources. Minister of Environment, Mining and Spatial Planning Oliver Dulic, Deputy Prime Minister Božidar Ðelic, German Ambassador to Serbia Wolfram Maas, and a large number of energy experts from South East Europe will take part in the conference.




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