Serbia eyes over EUR 2bn worth of energy investment via RWE agreement.

By bne IntelliNews September 10, 2012
Serb government officials will sign at their upcoming visit to Germany an energy cooperation agreement between Serbian power utility EPS and Germany's RWE, which would enable investment worth more than EUR 2bn, news agency Tanjug reported. Serbia's deputy PM Aleksandar Vucic told reporters in Belgrade on Saturday that under the deal, which will be signed soon in Berlin, the German side will invest EUR 1.2bn in the construction of the third unit of thermal power plant Nikola Tesla B and more than EUR 1bn in hydropower projects. Serbia will return the investment not in cash but in green energy. The article reminds that EPS and RWE's subsidiary RWE Innogy have signed an agreement to set up a joint company that would built at least five hydropower plants on the Velika Morava river of a combined capacity of 150 MW. The project, which is estimated to cost EUR 352mn, is expected to be launched in 2014 as the plants should be successively built starting as of 2012 until 2020. RWE is also interested in building a hydropower plant on the upper flow of the Drina river together with EPS.

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