Renewables

Japan could finance pumped storage hydropower plant Bistrica in Serbia as cost rises to EUR 1.2 billion

Bistrica-Japan-Jica-euro

Photo: Pexels

Published

August 2, 2023

Country

Comments

comments icon

0

Share

Published:

August 2, 2023

Country:

Comments:

comments icon

0

Share

Serbia is preparing to negotiate with Japan on financing the construction of pumped storage hydropower plant Bistrica, whose cost is now projected at EUR 1.2 billion, up from EUR 700 million. The 628 MW facility is expected to provide balancing and enable the integration of new solar power plants and wind farms.

The Ministry of Mining and Energy of Serbia recently announced that Japan International Cooperation Agency (JICA) has expressed interest in cooperation on the project.

Vučić: Energy minister is going to Japan for talks on Bistrica financing

Serbian President Aleksandar Vučić said at the end of July that Minister of Mining and Energy Dubravka Đedović was going to Japan to negotiate the financing of the Bistrica project.

Đedović has said it is important to continue discussions on securing financing, in parallel with the preparation of the environmental impact assessment and project design.

She also noted that Bistrica is a priority project in the government’s plan energy infrastructure and energy efficiency plan, and added it would play an important role in efforts to increase energy generation from renewable sources.

Serbia has asked Japan to finance the Bistrica project

In April, Minister of Finance Siniša Mali handed a letter of intent to outgoing Japanese ambassador Takahiko Katsumata, calling for stronger cooperation with JICA, specifically through the financing of the Bistrica project.

Serbia’s 2023 budget envisages guarantees worth EUR 600 million for loans for the investment.

According to an earlier estimate by state-owned power utility Elektroprivreda Srbije (EPS), the Bistrica pumped storage power plant could be put in operation by 2031.

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

Belgrade Energy Forum 2025 BEF 2025 EU Southeast Europe

Belgrade Energy Forum 2025 – top delegations coming from EU, Southeast European countries

07 May 2025 - Belgrade Energy Forum 2025 features eight panel discussions and more than 50 speakers: distinguished energy experts and representatives of energy companies

Global solar power capacity hits 2 2 TW in 2024 Turkey among top growers

Global solar power capacity hits 2.2 TW in 2024, with Turkey among top growers

06 May 2025 - The world added 597 GW of photovoltaic capacity last year, achieving an astounding 36% rate of growth, SolarPower Europe found

bih world bank loan federation bih epbih coal regions just transition kreka mine

Federation of BiH secures EUR 83 million for just transition of coal regions

06 May 2025 - The funds are intended for the implementation of the Just Transition in Select Coal Regions of Bosnia and Herzegovina Project

Kosovo launches reconstruction of coal power plant unit

Kosovo* launches reconstruction of coal power plant unit

06 May 2025 - Kosovo Energy Corp. (KEK) began the reconstruction and modernization of one of the two units in its Kosovo B coal power plant