Serbia’s EPS Earmarks 80 Mln Euro for Hydro Power Plant Construction, Upgrades

BELGRADE (Serbia), April 13 (SeeNews) – Serbian power monopoly EPS said on Wednesday it plans to invest around 80 million euro ($116.1 million) total in the upgrade of 17 existing and the construction of 18 new hydro power plants.

The combined capacity of the 35 hydro power stations is 80 megawatts (MW), EPS said in a statement.

The power utility said it will borrow 45 million euro from the European Bank for Reconstruction and Development for the project which will help it achieve the goal of deriving 20% of its electricity production from renewable energy sources by 2020.

EPS said it will first build the Prvonek hydro power plant on the Banjska river close to Vranje, in the country's south. The 1.4 million euro facility is scheduled for launch in September.

Prvonek, fully-funded by EPS itself, will comprise two units with a capacity of 100 and 800 kilowatts each. The plant will produce 2.5-3.0 million kilowatthours (kWh) of electricity annually.

Hydro power plants generate almost a third of EPS's annual electricity capacity or 10-12 billion kWh.

($=0.6900 euro)

Choose your newsletter by Renewables Now. Join for free!