EPS, KfW developing green energy together

Electric Power Industry of Serbia (EPS) is an important partner of KfW Development Bank in the frame of cooperation with the country, said Arne Gooss, director of the German financial institution’s Belgrade office. He added projects with the company have been ongoing for a decade. In an interview with magazine EPS Energija, he stated the utility is improving performance on a market basis.

The bank plans to invest EUR 126 million in environmental protection and renewable energy sources, Gooss stressed. The main project in the pipeline is for the transport of ash in thermal power plant Nikola Tesla A near Belgrade, KfW’s official explained. He said 60,000 residents in the vicinity would be protected from serious pollution. The funding volume extended by KfW amounts to EUR 45 million, with loan contracts in preparation and the aim to start implementation this year, in the words of Arne Gooss.

In the renewable energy segment, KfW’s chief in Serbia underscored the rehabilitation of the hydropower plant in Zvornik is planned to be finished in 2019. KfW provided EUR 70 million for the project. Also, the construction of wind farm Kostolac should be launched this year. The assessment is done and the bank is funding the endeavour with EUR 81 million.

“The focus of the cooperation for KfW, which acts under the auspices of the Federal Ministry for Economic Cooperation and Development of Germany, is in the area of environmental protection and on promoting sustainable economic development. In the segment of promotion of sustainable economic development, KfW provides local banks the credit lines for municipalities, enterprises and citizens to invest in increasing energy efficiency and renewables as well as general investments in agriculture and in the community. One of the new projects concerns credit lines for eco-loans, intended particularly for small and mid-sized enterprises in Serbia to invest in boosting energy efficiency,” Goos stated.