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The Government of the Republic of Serbia

In the service of citizens

Successful cooperation with EBRD on projects in energy sector

Belgrade, 27 June 2023

Minister of Mining and Energy Dubravka Djedovic talked today with Head of Mission of the European Bank for Reconstruction and Development (EBRD) to Serbia and the Western Balkans Matteo Colangeli about cooperation on projects in the energy sector.

Djedovic pointed out that the recently adopted Baselines of the energy infrastructure development plan and energy efficiency measures for the period up to 2028 with projections up to 2030, foresee the revitalisation of existing hydropower plants and that, in cooperation with the EBRD, financing of the project of revitalisation of the Vlasina hydropower plants will be provided.

She stated that through the Western Balkans Investment Framework (WBIF), an EU grant of €15.5 million was approved for a project that will extend the life of the Vlasina hydropower plants, increase the installed capacity by eight megawatts and enable the increase of renewable energy sources in our energy system.

The estimated value of the entire project is approximately €77 million, negotiations with the EBRD are ongoing and we expect the contract to be signed in the fall, said the Minister.

According to her, the EBRD recently approved a financial package worth €300 million for the liquidity of Elektroprivreda Srbije power utility service and the reform of the energy sector.

Djedovic emphasised that all the conditions for the payment of the first tranche of the €200 million loan have been met, which will significantly contribute to the liquidity of Elektroprivreda Srbije.

She stated that the Ministry and the EBRD cooperate on several projects in the field of energy efficiency and renewable energy sources, which provide support to Serbia in the decarbonisation of the energy sector.

Our goal is to introduce heat pumps in heating plants and use the potential of solar thermal and geothermal technology, the Minister pointed out and announced that next year the works will start within the project, which is worth more than €40 million.

According to her, through this project, we will increase the share of renewable energy sources in district heating systems in 11 local governments.

Djedovic stated that the Ministry is working with the EBRD on the improvement of energy efficiency measures through the project of energy rehabilitation of residential buildings connected to the district heating system, which is worth €50 million.

Colangeli pointed out that the EBRD will present a new five-year strategy for Serbia, in which green energy transition takes the main place.

Our goal is to be Serbia's partner in providing financial support for the energy transition in order to increase capacities from renewable energy sources and successfully continue projects to improve energy efficiency, explained Colangeli.

Our new strategy also defines the possibility of financing strategic gas infrastructure projects in order to diversify sources of supply, such as the project to build a gas interconnection between Serbia and North Macedonia, the Head of Mission of the EBRD to Serbia and the Western Balkans said.