Serbia's EPS, Germany's RWE Innogy To Develop 352 Mln Euro Hydro Power Project

BELGRADE (Serbia), May 24 (SeeNews) – Serbian power monopoly EPS said on Tuesday it has signed an agreement with Germany’s RWE Innogy to set up a joint company that will build at least five hydro power plants worth a combined 352 million euro ($496.1 million).

The two sides signed an agreement for the incorporation of joint venture Moravske Hidroelektrane in Belgrade on Tuesday, EPS said in a statement.

The planned hydro power plants will have a combined capacity of some 150 megawatts and will be located on the Velika Morava river.

No timeframe was provided for the implementation of the project.

RWE Innogy is a subsidiary of German utility company RWE.

($ = 0.7096 euro)

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