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Nov 21, 2007 16:21 EEST
BELGRADE (Serbia), November 21 (SeeNews) – Serbia’s power monopoly Elektroprivreda Srbije (EPS) signed on Wednesday a 65.6 million euro contract with Austrian VA Tech Hydro for the reconstruction of hydropower plant Bajina Basta, EPS said.
The project is financed through a 30 million euro credit from German bank KfW and 35.6 million euro that EPS should provide from its electricity sale revenue, the power monopoly said in a statement on its website.
The project should be completed by 2012. It includes an upgrade of almost the entire Bajina Basta equipment and capacity increase by 50 megawatts (MW) to 420 MW.
The combined installed capacity of Serbia's power plants is 8,355 megawatts (MW), including 5,171 MW of coal-fired plants, 353 MW of gas-fired plants and 2,831 MW of hydro power plants, according to EPS data.
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