Beo Čista Energija starts drawing EUR 290 million loan for Vinča landfill project
Beo Čista Energija, the joint-venture for the implementation of Belgrade’s Vinča landfill project, has achieved financial close for a EUR 290 million loan to build and operate a 103 MW energy-from-waste facility and a demolition waste recycling unit, allowing the closure of one of the largest dumpsites still active in Europe.
The company formed by Suez, Itochu and Marguerite started drawing this month on a non-recourse credit facility issued by International Finance Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), and the Development Bank of Austria (OeEB), according to a press release by Beo Čista Energija.
By achieving financial close under a EUR 290 million non-recourse loan agreement, the consortium is delivering on its commitment to finance, build, and operate new waste management facilities
By achieving financial close under a EUR 290 million non-recourse loan agreement with the IFC, EBRD, and the OeEB, the consortium of Suez, Itochu and Marguerite is delivering on its commitment to finance, build, and operate new waste management facilities as part of a 25-year public-private partnership concluded in 2017 with the City of Belgrade.
The planned infrastructure includes the construction of a 103 MW EfW facility, processing up to 43 tons of waste per hour
The planned infrastructure includes the construction of a 103 MW energy-from-waste (EfW) facility, processing up to 43 tons of waste per hour and delivering power to the national grid and heat to Belgrade’s municipal district heating company Beogradske Elektrane, thus reducing its dependency on natural gas.
Additional facilities include the construction of a waste recycling unit with a capacity of 200,000 tons per year of demolition waste and an engineered landfill with biogas recovery.
Beo Čista Energija will benefit from 12-year guaranteed feed-in tariffs for the sale of electricity produced by its two facilities
According to the press release, Beo Čista Energija will benefit from 12-year guaranteed feed-in tariffs for the sale of electricity produced by the energy-from-waste facility and the landfill gas recovery plant – in a first for a waste project in Serbia.
Full commercial operations planned to start in 2022
Progress of the works, which started in October 2019, continues despite the Covid-19 pandemic, with full commercial operations planned to start in 2022.
All facilities will be operated by Suez under a 25-year operation & maintenance contract, the press release reads.