EBRD Makes 2.7 Mln Euro Milestone Investment in Serbia's Private Energy Generation Sector

The European Bank for Reconstruction and Development (EBRD) said on Monday it has provided a 2.7 million euro ($3.6 million) long-term loan to Serbian company Interkomerc Energo to build four small hydro power plants.

“This is a milestone deal marking the bank's first investment in privately owned electricity generation in the Serbian power sector,” the EBRD told SeeNews in an email.

The plants will be located in southern Serbia.

This is also the first project to be financed in Serbia under the Western Balkans Sustainable Energy Direct Financing Facility (WBSEDFF) dedicated solely to financing private sector projects related to renewable energy and industrial energy efficiency.

Interkomerc Energo is a project company owned by Serbia's Interkomerc and two other local firms, the EBRD said.

The project will be carried out partly with funding from the European Union, it added.

($ = 0.7431 euro)

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