According to the Bank’s website, the project consists of a sovereign guaranteed loan of up to EUR 62 million in favour of Elektroprivreda Srbije AD Beograd ("EPS", or the "Company"), a fully state-owned power utility in Serbia. The loan proceeds will be used for the reconstruction of the existing hydro power plant ("HPP") Vlasinske.
Also, the Project will benefit from EUR 15.4 million of grant funding from the European Union (EU), via the Western Balkans Investment Framework ("WBIF"), approved in December 2022 and supported by the EBRD.
The Project aims at extending the useful life of the HPPs (128 MW) and increasing the installed capacity of the site by 8 MW, yielding approximately 310 GWh of increased production, as well as allowing for further development of the renewable energy in the country.
Proceeds of the loan will finance procurement of new generation units, accompanying auxiliary electromechanical systems of units and power plant, hydro mechanical equipment and control equipment for HPP consisting of four cascades, with the aim of replacing obsolete equipment.
|Private Actor 1
|Private Actor 1 Role
|Private Actor 1 Sector
|Private Actor 2
|Private Actor 2 Role
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|Javno Preduzece "Elektroprivreda Srbije" Beograd - EPS
Client - Elektroprivreda Srbije AD Beograd:
ACCESS TO INFORMATION
You can request information by emailing: firstname.lastname@example.org or by using this electronic form: https://www.ebrd.com/eform/information-request
ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.
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