Serbia has taken a bold step by amending its Energy Act, lifting a decades-long moratorium on nuclear energy. This marks a pivotal moment in the country’s energy policy, aligning its strategies with the European Union’s commitment to sustainability and decarbonization. The move opens new opportunities for innovation, investment, and collaboration, positioning Serbia as a key player in the regional energy transition.
The European Union (EU) has long prioritized renewable energy and consistently provided support and incentives to encourage the transition to cleaner energy sources. This commitment extends to nuclear energy, officially classified as sustainable under the EU’s Taxonomy Regulation. Designed to direct investments toward environmentally sustainable projects, this classification aligns with the EU’s broader climate objectives outlined in the European Green Deal.
In February 2022, the European Commission approved the inclusion of nuclear energy in its Taxonomy through a Complementary Climate Delegated Act. Under stringent conditions, nuclear energy is recognized for its role in mitigating climate change while adhering to the principle of “do no significant harm.” These conditions include robust waste management plans and adherence to updated safety protocols. They also encompass comprehensive environmental impact assessments.
With lingering controversy and opposition from certain member states like Austria and Luxembourg, nuclear energy remains a contentious issue. However, it is viewed as a critical component of the EU’s strategy to achieve climate neutrality by 2050. It provides a stable and reliable energy source that complements renewable options, addressing challenges like wind and solar power intermittency. This classification aims to attract private investment, solidifying nuclear energy’s role alongside renewables in Europe’s low-carbon future.
The Green Agenda for the Western Balkans (GAWB), endorsed by Western Balkan leaders, mirrors the EU’s decarbonization, circular economy, pollution reduction, and biodiversity preservation goals. By embracing nuclear energy under strict conditions, Serbia can contribute to these objectives. This approach ensures its transition to low-carbon energy systems and aligns with EU climate neutrality goals by 2050.
The potential benefits of this shift indeed extend beyond nuclear energy. Renewable energy development, energy storage solutions, and cross-border electricity markets are expected to flourish, creating opportunities for prosumers and investors. By embracing these changes, Serbia can further accelerate its decarbonization efforts and contribute to regional energy innovation.
International institutions, including the EU and the World Bank, actively support renewable energy through policies, financing, and regulatory frameworks. These measures aim to mitigate risks for investors while fostering innovation and infrastructure development. For instance, the EU’s Renewable Energy Directive promotes clean energy deployment across member states, ensuring a structured and transparent investment process.
The recent amendments to Serbia’s Energy Act also enhance transparency in energy investments. They achieve this by tightening criteria for connecting power plants to the distribution system. These changes concurrently eliminate speculative applications from unqualified investors, paving the way for strong, capable projects. This regulatory clarity boosts confidence among investors and aligns with global trends toward a sustainable and regulated energy transition.
This landmark reform signals Serbia’s readiness to align with the EU’s green transition goals. Furthermore, it offers an unprecedented opportunity for leadership in the evolving energy sector. By lifting barriers to nuclear energy, Serbia strengthens its alignment with the EU’s green goals. This move, therefore, unlocks new opportunities for regional cooperation, investment, and sustainable growth, bringing the region closer to EU integration.
Author: Vuk Leković, Marko Jović
