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Serbia to invest 800 mln euro in overhaul of hydro power plants - report

Author: grendelkhan. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

BELGRADE (Serbia), October 8 (SeeNews) - Serbian state-owned power utility Elektroprivreda Srbije (EPS) plans to invest 800 million euro ($878.3 million) in the overhaul of hydro power plants across the country, news agency Tanjug reported.

The investment will ensure the stability of electricity production from hydro power plants, which together with wind and solar capacities have a stake of about 30% in the country's power mix, Tanjug quoted EPS strategy director Aleksandar Jakovljevic as saying on Monday.

Serbia generates 70% of its electricity at coal-fired power plants and this will not change in the short term, Jakovljevic said.

Serbia needs to increase the share of solar and wind renewable energy in its power mix to 27% and meet some of the criteria set out in Chapter 15 - Energy and Chapter 27 - Environment of its membership talks with the European Union (EU).

($ = 0.91081 euro)

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