SOCAR, Serbian company sign agreement on Niš power plant

On June 1, the State Oil Company of Azerbaijan (SOCAR) and Serbia's Elektroprivreda Srbije (EPS) signed a cooperation agreement on the development, construction, and operation of a gas power plant in the city of Niš, Report informs, citing EPS.

The document was signed by EPS General Manager Dušan Živković and SOCAR President Rovshan Najaf during the Baku Energy Week.

Serbia's Minister of Mining and Energy, Dubravka Đedović Handanović, emphasized the importance of the agreement: "The signing of this document between the two companies will further strengthen Serbia"s energy security, contribute to diversification of energy sources, and support the green transition. The goal is to have a new base energy generation capacity of up to 500 MW installed in the grid by 2030."

She added that cooperation with SOCAR confirms the strong energy partnership between Serbia and Azerbaijan and opens opportunities for new joint projects of mutual importance.

The minister stressed: "With this project, EPS continues the transformation of its production portfolio and strengthens its ability to provide citizens and the economy with stable and reliable electricity supply. Partnership with SOCAR allows us to combine experience and resources to implement a modern energy facility that will contribute to the long-term sustainability of Serbia's power system."