Trivera Energy

02/06/2026

🔋 Energy efficiency first. Renewables second. Always.

The message from yesterday's panel at the Slovenački poslovni klub was unanimous — companies that skip energy efficiency and jump straight to RES are doing it backwards. Still, solar remains as the sole biggest easy-win.

Trivera Energy's CEO Djordje Popovic broke it down on stage: the new government regulation on self-supply is a genuine opportunity, but the model has to match the consumption reality. A small workshop and a 24/7 factory need completely different approaches. There's no universal answer — just the right one for your business.

The numbers in the room were hard to ignore: ⚡ Serbia has 3x more wind & solar capacity than 4 years ago 📅 The grid connection window is open now for industry as active consumers — miss it, wait 6 months 🎯 Target: 45% renewables by 2030

But not everyone wins. Đorđe was clear: investors who were counting on large-scale RES capacity without secured permits and grid connections are the biggest losers under the new regulation. The GoV messaging isn't that of a legal certainty - the previously adopted time windows for large projects are now significantly postponed (for 2029), which is principally not an investor-friendly approach. The opportunity now belongs to the "healthy" projects who already have the paperwork in place — and that's where smart capital will flow.

The cycle is moving. Are you on the right side of it?

📰 https://www.ekapija.com/news/5558916/preporuka-firmama-prvo-ulazite-u-energetsku-efikasnost

Preporuka firmama: Prvo ulažite u energetsku efikasnost!

07/05/2026

𝗔𝗰𝘁𝗶𝘃𝗲 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 𝗶𝗻 𝗦𝗲𝗿𝗯𝗶𝗮'𝘀 𝗘𝗻𝗲𝗿𝗴𝘆 𝗠𝗮𝗿𝗸𝗲𝘁: 𝗔 𝗥𝗲𝗳𝗼𝗿𝗺 𝗦𝘁𝗶𝗹𝗹 𝗪𝗮𝗶𝘁𝗶𝗻𝗴 𝘁𝗼 𝗛𝗮𝗽𝗽𝗲𝗻

𝗧𝗵𝗲 𝗦𝗲𝗿𝗯𝗶𝗮𝗻 𝗲𝗻𝗲𝗿𝗴𝘆 𝘀𝗲𝗰𝘁𝗼𝗿 𝗵𝗮𝘀 𝗳𝗼𝗿𝗺𝗮𝗹𝗹𝘆 𝗼𝗽𝗲𝗻𝗲𝗱 𝘁𝗵𝗲 𝗱𝗼𝗼𝗿 𝘁𝗼 𝗮 𝗻𝗲𝘄 𝗽𝗮𝗿𝗮𝗱𝗶𝗴𝗺—𝗯𝘂𝘁 𝗵𝗮𝘀 𝘆𝗲𝘁 𝘁𝗼 𝘀𝘁𝗲𝗽 𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝗶𝘁.

With the amendments to the Law on Renewable Energy Sources in April 2023 and the subsequent changes to the Energy Law in 2024, the concept of the 𝗮𝗰𝘁𝗶𝘃𝗲 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿 (𝗮𝗸𝘁𝗶𝘃𝗻𝗶 𝗸𝘂𝗽𝗮𝗰) was introduced into the regulatory framework.

While no longer "new" in legislative terms, the concept remains largely incomplete: without the necessary bylaws, it is neither operational nor capable of being tested in real market conditions.

𝗠𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝘁𝘄𝗼 𝘆𝗲𝗮𝗿𝘀 𝗮𝗳𝘁𝗲𝗿 𝗶𝘁𝘀 𝗶𝗻𝗶𝘁𝗶𝗮𝗹 𝗶𝗻𝘁𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻, 𝘁𝗵𝗲 𝘀𝘆𝘀𝘁𝗲𝗺 𝘁𝗵𝗮𝘁 𝘀𝗵𝗼𝘂𝗹𝗱 𝗲𝗻𝗮𝗯𝗹𝗲 𝗮𝗰𝘁𝗶𝘃𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗽𝗮𝗿𝘁𝗶𝗰𝗶𝗽𝗮𝘁𝗶𝗼𝗻 𝗶𝘀 𝘀𝘁𝗶𝗹𝗹 𝗻𝗼𝘁 𝗳𝘂𝗹𝗹𝘆 𝘀𝗵𝗮𝗽𝗲𝗱.

𝗙𝗿𝗼𝗺 𝗖𝗼𝗻𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻 𝘁𝗼 𝗔𝗰𝘁𝗶𝘃𝗲 𝗣𝗮𝗿𝘁𝗶𝗰𝗶𝗽𝗮𝘁𝗶𝗼𝗻: 𝗔 𝗣𝗮𝗿𝗮𝗱𝗶𝗴𝗺 𝗦𝗵𝗶𝗳𝘁

Traditionally, Serbia's electricity system—like most legacy power systems—has been built around a model where system balancing is managed almost entirely on the supply side. Generators adjust output to follow demand, while consumers play a largely static role: they consume electricity without actively responding to system needs or market signals.

This model is increasingly misaligned with today's energy reality. With the growing share of renewable energy sources such as solar and wind—by definition variable and weather-dependent—𝘁𝗵𝗲 𝗳𝗼𝗰𝘂𝘀 𝗶𝘀 𝘀𝗵𝗶𝗳𝘁𝗶𝗻𝗴 𝘁𝗼𝘄𝗮𝗿𝗱 𝗳𝗹𝗲𝘅𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗮𝘀 𝗮 𝗰𝗼𝗿𝗲 𝘀𝘆𝘀𝘁𝗲𝗺 𝗿𝗲𝗾𝘂𝗶𝗿𝗲𝗺𝗲𝗻𝘁.

In that context, consumers are no longer expected to remain outside the market logic. Instead, they are expected to:
▪ Adjust their consumption in response to price or system signals (demand response)
▪ Optimize generation and consumption behind the meter
▪ And provide flexibility services—individually or via aggregators—to support grid operation

𝗧𝗵𝗶𝘀 𝗶𝘀 𝗻𝗼𝘁 𝗮𝗻 𝗶𝗻𝗰𝗿𝗲𝗺𝗲𝗻𝘁𝗮𝗹 𝗮𝗱𝗷𝘂𝘀𝘁𝗺𝗲𝗻𝘁—𝗶𝘁 𝗶𝘀 𝗮 𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗮𝗹 𝘀𝗵𝗶𝗳𝘁 𝗶𝗻 𝗵𝗼𝘄 𝘁𝗵𝗲 𝗲𝗻𝗲𝗿𝗴𝘆 𝗺𝗮𝗿𝗸𝗲𝘁 𝗳𝘂𝗻𝗰𝘁𝗶𝗼𝗻𝘀.

𝗔 𝗖𝗼𝗻𝗰𝗲𝗽𝘁 𝗪𝗶𝘁𝗵𝗼𝘂𝘁 𝗮𝗻 𝗢𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗙𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸

Despite being embedded in primary legislation, the active customer model still lacks the necessary operational backbone. The missing piece is a comprehensive set of bylaws that would define how the system works in practice.
This includes:
▪ Market access conditions
▪ Settlement and compensation mechanisms
▪ Technical and metering requirements
▪ Aggregation rules
▪ And the valuation of flexibility services

𝗪𝗶𝘁𝗵𝗼𝘂𝘁 𝘁𝗵𝗲𝘀𝗲 𝗲𝗹𝗲𝗺𝗲𝗻𝘁𝘀, 𝗮𝗰𝘁𝗶𝘃𝗲 𝗽𝗮𝗿𝘁𝗶𝗰𝗶𝗽𝗮𝘁𝗶𝗼𝗻 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝘁𝗵𝗲𝗼𝗿𝗲𝘁𝗶𝗰𝗮𝗹.

The passage of time since 2023 only underscores this gap. What was introduced as a forward-looking reform has yet to translate into an actionable framework.

𝗧𝗵𝗲 𝗣𝗿𝗼𝘀𝘂𝗺𝗲𝗿 𝗜𝘀𝘀𝘂𝗲: 𝗖𝗮𝘂𝗴𝗵𝘁 𝗕𝗲𝘁𝘄𝗲𝗲𝗻 𝗧𝘄𝗼 𝗠𝗼𝗱𝗲𝗹𝘀

Parallel to the introduction of active customers, the role of the prosumer has been reshaped—though not fully replaced. Previously, prosumers—especially in the industrial sector—were seen as a cornerstone of renewable integration, with rights aligned with EU acquis principles on self-consumption.

However, the amendments brought notable changes:
▪ The capacity threshold for prosumers was reduced to 150 kW
▪ And the expectation was that active customers would become the dominant model going forward

That transition has not materialized. Instead, the market remains in a hybrid—and constrained—state:
▪ The prosumer model has been significantly curtailed
▪ The active customer model is not yet operational
▪ 𝗔𝗻𝗱 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆 𝗶𝘀 𝗲𝗳𝗳𝗲𝗰𝘁𝗶𝘃𝗲𝗹𝘆 𝘀𝘁𝗮𝗹𝗹𝗶𝗻𝗴 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁

𝗔 𝗥𝗲𝗳𝗼𝗿𝗺 𝗦𝘁𝗶𝗹𝗹 𝗪𝗮𝗶𝘁𝗶𝗻𝗴 𝘁𝗼 𝗛𝗮𝗽𝗽𝗲𝗻
The introduction of active customers reflects a clear strategic direction: a more flexible, decentralized, and participatory energy system.

But strategy alone is not enough. For this reform to move forward:
▪ Secondary legislation must be adopted, without further delay, to enable real participation
▪ Institutional and market readiness must be ensured, particularly in areas such as aggregation and flexibility trading
▪ Regulatory clarity must be restored, especially regarding the coexistence of prosumers and active customers
▪ Industry confidence must be rebuilt, by providing predictable and implementable rules

𝗟𝗼𝗼𝗸𝗶𝗻𝗴 𝗔𝗵𝗲𝗮𝗱

The concept of the active customer has the potential to significantly reshape Serbia's energy market. But today, it remains a concept waiting for ex*****on.

After more than two years since its introduction into law, 𝘁𝗵𝗲 𝗸𝗲𝘆 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗶𝘀 𝗻𝗼 𝗹𝗼𝗻𝗴𝗲𝗿 𝘄𝗵𝗮𝘁 𝗮𝗰𝘁𝗶𝘃𝗲 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 𝗮𝗿𝗲—𝗯𝘂𝘁 𝘄𝗵𝗲𝗻 𝘁𝗵𝗲𝘆 𝘄𝗶𝗹𝗹 𝗯𝗲𝗰𝗼𝗺𝗲 𝗮 𝗳𝘂𝗻𝗰𝘁𝗶𝗼𝗻𝗶𝗻𝗴 𝗽𝗮𝗿𝘁 𝗼𝗳 𝘁𝗵𝗲 𝘀𝘆𝘀𝘁𝗲𝗺.

At 𝗧𝗿𝗶𝘃𝗲𝗿𝗮 𝗘𝗻𝗲𝗿𝗴𝘆, we see strong and growing interest from industry players to move beyond static consumption. The readiness is there. The business case is emerging. 𝗪𝗵𝗮𝘁 𝗶𝘀 𝘀𝘁𝗶𝗹𝗹 𝗺𝗶𝘀𝘀𝗶𝗻𝗴 𝗶𝘀 𝗮 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝘁𝗵𝗮𝘁 𝘁𝘂𝗿𝗻𝘀 𝗽𝗼𝘀𝘀𝗶𝗯𝗶𝗹𝗶𝘁𝘆 𝗶𝗻𝘁𝗼 𝗽𝗿𝗮𝗰𝘁𝗶𝗰𝗲. This is why it is extremely important to include industry players and energy service providers in the efficient merits-based dialogue with the GoV and the relevant stakeholders.

05/05/2026

At the recent 3rd Annual H2 Cluster Conference, Djordje Popovic, CEO of Trivera Energy, moderated a panel on industry, CO₂ and the real drivers of hydrogen demand.

The discussion brought together key market stakeholders and focused on practical, real-life perspectives of hydrogen deployment in Serbia and the wider SEE region.

Key takeaways:

• There are currently no sufficient economic, infrastructure, or technological preconditions for large-scale adoption of green hydrogen in Serbia and SEE.

• However, for hard-to-abate industries such as cement, hydrogen (green—or in the interim, blue with carbon capture & storage) may represent the only viable long-term pathway to full decarbonization. Early pilot initiatives are already emerging.

• For hydrogen to become commercially viable at scale, several critical conditions must be met:

– Pricing needs to reach bankable levels (targeting ~1–2 EUR/kg or slightly above);

– Transport and storage infrastructure must be developed, requiring substantial state-backed investments;

– Production technologies need to be further tested, optimized, and made locally available;

– Clear regulatory frameworks and government incentive schemes must be introduced to support market development.

• Ultimately, demand is not the key issue — it is already present in the sectors under the highest decarbonization pressure. The real challenge lies in aligning industry, energy providers, governments, and technology partners to create a functioning ecosystem.
In short, hydrogen holds significant potential — but its success will depend on coordinated, systemic action across the entire value chain.

Driven by Energy. Focused on Impact.

04/05/2026

At the Kopaonik biznis forum, during the panel “Energy 4.0: System transformation for a sustainable economy”, Djordje Popovic, CEO of Trivera Energy, joined industry leaders and policymakers to discuss the pace and direction of Serbia’s energy transition.

The high-profile forum discussed MOL's plans to take over NIS, EPS investments, the obligations that CBAM has brought to economy, changing awareness about nuclear energy and the importance of energy efficiency.

One of the key Trivera's messages stood out: industry today is not decarbonizing only because it wants to — but because it increasingly has to.

Two forces are driving this shift: (1) geopolitical uncertainty, particularly when it comes to heating energy and long-term energy security; and (2) growing regulatory pressure, including the introduction of a domestic CO₂ tax and the impact of CBAM on export-oriented industries.

During the panel, real-life examples from the industry practices were shared, showing how companies are already responding through energy efficiency measures and renewable energy investments.

To accelerate this transition, several regulatory priorities were highlighted by Mr. Popović:
• clearer and more practical regulation of the “active buyer” framework
• transparency on fees and taxes applicable to corporate PPAs
• stronger distribution grid capacities to support new projects
• and clear incentive schemes for building retrofit and energy efficiency

At Trivera Energy, we believe the next phase of decarbonization will be defined by practical solutions, regulatory clarity, and strong cooperation between industry and policymakers.

Driven by Energy. Focused on Impact.