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: rehabiliation 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.
It
took more than six months of work within the WBIF procedure for preparing
applications, harmonizing, responding to comments, improving applications, so
that on December 5th, the WBIF Operational Board was finally
convinced of the justification of the candidate projects, that the development
aid/grant funds are given for a reason - all four PE EPS projects were approved
for implementation through WBIF.
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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 percent 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.
