British Company in Running for Financing Construction of Reversible Hydro Power Plants in Serbia

Source: eKapija Wednesday, 28.02.2024. 10:44
Illustration (Photo: Dan Meyers on Unsplash)Illustration
The minister of mining and energy of Serbia, Dubravka Djedovic Handanovic, talked in London with the CEO of UK Export Finance, Tim Reid, about the possibilities of cooperation on the financing of projects in the field of energy in Serbia.

UK Export Finance is the agency of the UK government which gathers several hundred companies from the sector of banking and financial services, and the main topic of the meeting was the possibility of financing projects of the construction of reversible hydro power plants, solar power plants and energy storage facilities.

Djedovic Handanovic pointed out that the reversible hydro power plants Bistrica and Djerdap 3 were among the priority projects that should enable a smooth integration of the large capacities from renewable energy sources, a crucial factor for a rapid energy transition of Serbia.

The minister added that, parallel with the preparation of the necessary studies and technical documentation, there were also talks with all the partners interested in taking part in the financing of those projects, so that the realization of that big project with maximum efficiency would be secured.

The representatives of UK Export Finance introduced the minister to the advantages of the cooperation and financing that the agency offered and pointed out that the United Kingdom had a rounded-out chain value that could help support the energy transition in Serbia, as well as experience and good cooperation with Serbia on big infrastructure projects in the preceding years.

Let us remind that the Japan International Cooperation Agency (JICA) is also interested in financing the project of the construction of the reversible hydro power plant (RHPP) Bistrica, but also other energy projects in Serbia.

The acting director of EPS, Dusan Zivkovic, says that the preliminary design and the feasibility study for the RHPP Bistrica are completed and that the preparation of the spatial documentation is in progress, which should create the conditions for the construction of the project, as is the Environmental Impact Assessment Study, whose completion is expected in the second half of the year, in September or October.

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