Project Description
The EBRD is providing financing to EPS to rehabilitate 15 existing small hydro power plants across Serbia, and to add electricity generation capability to another seven existing dams, which will continue to be used for other water management purposes. The project is intended to extend the lifetime of the existing small hydro power plants, and will increase generation from renewable energy through increases in the capacity of the existing plants and the addition of further generation capacity to the other dams.
Transition Impact
The project, when approved by the EBRD’s Board of Directors, will have the following transition impact:
- Setting standards for corporate governance and business conduct – reduction in carbon intensity: apart from large hydropower plants,
which account for 30 per cent of Serbia’s overall electricity output, Serbia is still producing only very small amounts of energy from
renewable sources. The project will increase the use of renewable energy and thus reduce carbon emissions by approximate 61 thousand
tonnes of CO2-equivalent per year compared with current electricity generation in Serb
- Setting standards for corporate governance and business conduct - the intention of EPS to set up a separate subsidiary to manage and
develop renewable energy generation will improve both the efficiency of the management of existing renewable energy generation by EPS
and improve the climate for the development of new renewable energy resources in the future
- Demonstration of replicable products and processes: the Project is expected to provide a demonstration effect for other hydro power
developers in Serbia and the wider region in terms of the technical and economic viability of the investments.
- Transfer of skills: the project will involve the transfer of technical skills from international consultants to local consultants and design
engineers. In addition local contractors will benefit from the experience of building the plants. This transfer of skills and capacity building
will assist the development of the market for SHPPs in Serbia
Budget
Budget: €54 million.
Deadline: 21 June 2013
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