SOCAR, Serbia's EPS sign basic terms of cooperation for the Nis gas turbine fired power plant project

BAKU. June 1 (Interfax) - Serbian state-owned power utility EPS and State Oil Company of the Azerbaijani Republic (SOCAR) have signed basic terms for cooperation in the development, construction and management of a gas turbine power plant in the Serbian city of Nis, EPS said on social media.

The document, signed during Baku Energy Week, is a "strategic project and a major step toward strengthening Serbia's energy security, diversifying energy sources and accelerating the green transition," the company said.

Serbia will receive a new generating facility with a capacity of up to 500 MW by 2030.

"Energy partnership between Serbia and Azerbaijan continues to develop thanks to mutually important projects supported at the highest level. The new gas turbine power plant in Nis will facilitate more stable and reliable supply of electricity to citizens and the economy, as well as the long-term sustainability of the Serbian power sector," EPS said.

Serbia expects to begin building the gas turbine power plant in Nis jointly with SOCAR in 2027 so it can be ready by 2030, it has been reported.

In mid-May, Serbian Mining and Energy Minister Dubravka Dedovic Handanovic said that Serbia had reached agreement with SOCAR on the main terms of the contract for the GTPP project in Nis. A capacity of around 500 MW for electricity production and approximately 150 MW for thermal energy production was considered.

Baku and Belgrade signed an intergovernmental agreement on February 15, 2026, to build a 500 MW GTPP in Serbia. It is planned that the project will be implemented on an equal footing.

The parties are actively developing cooperation in gas supplies. On November 15, 2023, SOCAR and Srbijagas signed an agreement to supply up to 400 million cubic meters of Azerbaijani gas per year to Serbia in 2024-2026, with the option to boost supplies from 2027.