Serbia's mining and energy ministry is preparing a support system for foreigners wanting to invest in electricity production from renewable energy sources. The ministry's Dejan Stojadinovic says the government plans to mandate a purchase price for power from renewable sources of EUR 0.114-EUR 0.136/kWh, with investors permitted to sign 12-year purchase contracts with state-owned power company Elektroprivreda Srbije. According to Stojadinovic, Serbia has potential to annually produce 2.3 TWh of electricity from wind power, or about 7% of current electricity production. The best locations in Serbia are Midzor, with average wind speed of 7.7 m/s, followed by Suva Planina (6.5 m/s) and Vrsacki Breg (6.3 m/s). State Secretary Nikola Rajakovic has promised the new incentives will come into force by July, saying a fund will be set up to provide "significant subsidies" for both Serbian and foreign investors in the renewable energy sector.