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EBRD to lend 30 mln euro to Serbia for renewable district energy project

Author Senad Dedeic
EBRD to lend 30 mln euro to Serbia for renewable district energy project Photo: EBRD

BELGRADE (Serbia), September 23 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it plans to provide Serbia with a sovereign loan of up to 30 million euro ($29.33 million) loan to finance investments in renewable district energy in several district heating companies in the country.

The project will support the integration of solar-thermal, heat pump, waste heat and geothermal technologies in existing district heating systems in several small and medium-sized municipalities through decarbonisation of the district heating systems by introducing at least 142 GWh of produced renewable heat, the EBRD said in a project summary document on Thursday.

Additionally, the project is expected to receive up to 7.5 million euro in investment and technical assistance grants from the Swiss State Secretariat for Economic Affairs and the European Union under the Regional Energy Efficiency Programme.

The sub-projects were assessed and selected through the Renewable District Energy in the Western Balkans Programme established by the EBRD in 2019. The programme was set up in partnership with the Austrian government to incentivise reforms and create an enabling environment for financing renewable district energy investments in the Western Balkans.

The project has a scheduled approval date of November 30.

($ = 1.02287 euro)