Electricity

EPS to invest EUR 4.5 billion by 2025

EPS privatization joint stock company

Photo: EPS

Published

December 18, 2016

Country

Comments

comments icon

0

Share

Published:

December 18, 2016

Country:

Comments:

comments icon

0

Share

Elektroprivreda Srbije (EPS) plans to invest EUR 4.5 billion into Serbian electric power system, but renewable energy sources still cannot replace coal as the main source of energy, according to the Serbian public power company’s strategy director.

“Coal fired power plants will remain the corner-stone of EPS power production in the coming period, along with further harmonisation with the European Union environmental legislation. EPS has already invested EUR 200 million in these processes, another EUR 600 million will be invested in the coming period,” said Jakovljević during the “The Economist: The World in 2017” conference held in Belgrade, as Tanjug news agency quoted.

He has also confirmed previously announced EPS’ plans to invest EUR 500 million in refurbishment of hydro power plants. The financing is to be provided by the European Bank for Reconstruction and Development (EBRD) credit line.

Apart from these projects, EPS also plans projects in the distribution system to increase supply safety and more efficient operations, with total planned investments reaching EUR 4.5 billion, according to Jakovljević.

Jakovljević said that there is also a potential in renewable energy source adding that the state had prepared relevant action plans that will be realized.

“What has to be said, since it is the most frequent question, whether renewable energy sources can become an alternative for coal in Serbia. Not at this moment. Not for a longer period of time”, said Jakovljević to the conference, adding that renewables should be included according to technological and technical feasibility taking care not to jeopardize the prices of electricity for end consumers.

EPS also plans projects to reduce the carbon-dioxide (CO2) emissions, while another field of action is the improvement of energy efficiency.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Two PV parks of 117 MW in total coming online near Bucharest

Two PV parks of 117 MW in total coming online near Bucharest

23 April 2025 - Eximprod is commissioning a 65 MW solar park north of Bucharest and Simtel arranged loans for the completion of a 52 MW plant in Giurgiu

Bulgaria grants EUR 587 million to 82 battery storage projects

Bulgaria grants EUR 587 million to 82 battery storage projects

22 April 2025 - Developers of 82 standalone battery projects in Bulgaria, for an overall 9.71 GWh in capacity, got approval for EUR 587 million in subsidies

bih energoinvest transformers brand tuzla

Energoinvest inaugurates transformers made in BiH

22 April 2025 - Bosnia and Herzegovina-based company Energoinvest has manufactured the first domestic transformers under its brand

Bulgaria canceling sale equipment Belene nuclear plant Ukraine

Bulgaria canceling sale of equipment for its Belene nuclear plant to Ukraine

22 April 2025 - Bulgaria decided to call off the sale of equipment from the failed Belene nuclear project to Ukraine's Energoatom and reactivate the plans