The Serbian government is seeking to expand the country's power generation capacity with plans to offer 319 prospective locations to interested investors looking to construct hydro electric facilities.

Energy Minister Zorana Mihajlovic was quoted by Bloomberg as saying that the list of projects will be announced in the third week of February 2013.

Following the announcement, investors will be allowed to apply for permits to develop hydro power plants, each with a capacity of 30MW.

Serbian power company Elektroprivreda Srbije’s acting chief executive officer Aleksandar Obradovic was also quoted by the news agency saying that the country requires nearly RSD484bn ($5.8bn) for the maintenance and up-gradation of its existing hydro and thermal facilities by 2017.

Obradovic added that another RSD235bn ($2.81bn) will be required in investments to build the new plants by the same date.