Nearly EUR 50 Million in EU Grants Approved to EPS for Four Projects

Due to the commitment and dedicated work of the Electric Power Industry of Serbia’s management, funds for non-reimbursable development assistance in the total amount of EUR 49.02 million were approved within the 28th call for technical assistance from the EU Western Balkan Investment Framework (WBIF) program and the 7th call for co-financing of investment projects through WBIF, and the confirmation that these funds have been granted to EPS was officially published. There are four projects involved: rehabilitation of Vlasinske HPPs - EUR 16.1 million, construction of the Kostolac wind farm - EUR 31.2 million and preparation of investment and technical documents for the development of Morava and Kolubara A solar power plants - EUR 860,000 each, EPS announced.

– This is a great success for EPS, as it is the first time that multiple grant projects have been approved for one applicant at the same time. Also, positive rating our projects receive is a confirmation that we are moving in the right direction, and European institutions are certain that the funds are properly allocated – said Miroslav Tomašević, acting director of PE EPS.

The funds provided for the rehabilitation of Vlasinske HPPs, one of the oldest hydropower systems in Serbia with a capacity of 128 MW, represent approximately 20% of the total estimated value of the project worth EUR 77.5 million.

In 2023, the plan is to complete the project financing activities, publish tender documents and sign contracts with future equipment suppliers. Preparations for the rehabilitation itself are already underway. It is planned to replace the capital equipment, the entire equipment of turbines and generators with turbine regulation, hydromechanical equipment and to adapt some auxiliary systems. EUR 31.2 million is secured as support for the construction project of the Kostolac wind farm.

As for the Morava and Kolubara A solar power plant projects, condition for application was existing interest or an already signed loan arrangement with one of the banks from the WBIF program (EBRD, KfW, EIB, World Bank, AFD, CEB). Funds in the amount of EUR 860,000 per project were approved. The leading prospective creditor for the realization of these investment projects is the EBRD. Construction of both solar power plants according to the project plan is expected to be completed in 2027.

– The solar power plant belonging to Kolubara A TPP can be built on a coal landfill and an ash landfill, its capacity being approximately 71 MW, and the annual generation 96 GWh. Total investments are estimated at EUR 80.14 million. Morava SPP will be located in the wider area of the settlement of Svilajnac with an expected annual generation of 60 GWh. Its capacity is approximately 45 MW and it shall be built on TPP Morava ash and slag landfill. Total investments are estimated at EUR 50 million – it is emphasized in the press release by EPS.

Akcionarsko društvo Elektroprivreda Srbije Beograd

EPS

EU Western Balkan Investment Framework

Miroslav Tomašević

cofinancing of investment projects

WBIF

revitalization of Vlasinske HPP

construction of wind farm Kostolac

solar power plants Morava and Kolubara A

wind farm Kostolac