Italy to pay FIT for green energy produced in Serbia

Oct 28, 2011 - Serbia and Italy have agreed feed-in tariff (FIT) for the energy that Italy will buy from renewable projects jointly developed by Italian and local entities in Serbia, Serbian Ministry of Infrastructure and Energy said on Tuesday.

The agreement guarantees a price of EUR 155 (USD 219.5) per MWh.

The move is part of contracts between the two countries for cooperation in the energy sector that include the purchase of the output of hydropower projects on the Drina and Ibar rivers to be jointly developed by Serbian state-owned utility Elektroprivreda Srbije (EPS) and Italian Seci Energia SpA, a unit of Maccaferri Group.

The electricity purchased will be transmitted to Italy through Montenegro and an underwater cable through the Adriatic Sea.

According to the statement, Italy will invest more than EUR 2 billion in joint energy projects with Serbia, including the hydropower projects of EPS and Seci Energia, and a joint coal-fired power project of EPS and Edison (BIT:EDN).

(EUR 1.0 = USD 1.416)

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