BELGRADE (Serbia), November 6 (SeeNews) - Renewable energy company Building Energy said on Friday it has signed a memorandum of understanding (MoU) with the central Serbian town of Krusevac for the construction of a 27 million euro ($29.4 million) woodchip-fired biomass power station.
The plant will have 4.8 MW of installed electric energy capacity and 20 MW of thermal power capacity. It will generate 38.4 GWh of electric power and 86 GWh of thermal power per year, Building Energy said in a statement.
The power plant, expected to be operational for the 2017/2018 winter season, will be fuelled by woodchips coming from the cleaning of Serbian woods. The sale of thermal energy, resulting from a ten-year agreement between Building Energy and the Krusevac thermal power plant, will largely contribute to satisfy the thermal needs of the city, which has about 110,000 inhabitants.
The sale of electricity on the other hand will be regulated by a contract with state-owned energy utility EPS.
Building Energy has been present in the Balkans market since 2014 with its offices in Belgrade, from which it manages and coordinates the development of its projects in Serbia, Croatia, Bosnia's Serb Republic, Romania, Montenegro, Poland, Ukraine, Belarus, Azerbaijan and Armenia.