20 December 2011: The European Bank for Reconstruction and Development (EBRD) is promoting green energy in Serbia with a €45 million sovereign-guaranteed loan to Elektroprivreda Srbije, the state-owned power company, to renovate existing and build new, small hydropower plants.

The proceeds of the EBRD loan will be used to refurbish 15 small hydropower plants with a combined capacity of 18 MW and to build seven new ones on existing dams. The new, small hydropower plants will have a combined capacity of 13 MW. This will contribute to modernise and extend the lifetime of the company’s existing small hydropower plants and increase the overall generation of renewable energy. It is estimated that this investment will result in CO₂ savings of 60,000 tonnes a year. [EBRD press release]