​EPS and KfW signed EUR 45 million Loan Agreement

28.02.2017

Environmental protection improvement in TENT

(Belgrade, 28th February 2017) Public Enterpize Electric Power Industry of Serbia and the German Development Bank KfW signed the Loan Agreement worth EUR 45 million that will improve the environmental protection in Serbia.

 
Agreement for financing the modernization of ash transport system in Thermal Power Plant Nikola Tesla A was signed by Mr. Milorad Grcic, PE EPS Acting Director and Mr. Christoph Tiskens, KfW Development Bank Director for Southeast Europe and Turkey and Mr. Jürgen Kern, Head of KfW Development Bank Division for Energy for Southeast Europe and Turkey.
 
Project implementation will provide for EPS reliable system for the disposal of ash, slag and gypsum from all TENT A units and it will improve environmental protection conditions. Loan repayment period is 12 months, with five years grace period.

- By signing the Loan Agreement with the German Development Bank we have started the implementation of project particularly significant for the environment. Loan will be used for the reconstruction of the ash transport system in the biggest EPS thermal power plant. It will result in better air quality because it will prevent the wind to spread the ash from TENT A and the project will also protect the groundwater, the Sava River and land from pollution. EPS is strategically committed to harmonizing the operation of all plants with the highest European environmental standards. Project that we will implement with the assistance of KfW Bank represents one of the projects leading us towards the achievement of that goal – said Mr. Milorad Grcic, EPS Acting Director. 

 

- We deeply respect EPS’ commitment to environmental protection by investing in modernization of ash transport system in Thermal Power Plant Nikola Tesla A. Reliable electricity supply, in accordance with the environmental protection principles is the priority for sustainable development of every country. Today’s signing of the agreement is only the first step. We wish EPS a lot of success with the implementation of this project. Portfolio that KfW implements in Serbia on behalf of the German Government exceeds EUR 1.7 billion. Two thirds of this amount are allocated for the energy sector.  We don’t have to point out that  EPS with its portfolio worth around EUR 350 million, is our most important partner – said Mr. Christoph Tiskens, KfW Development Bank Director for Southeast Europe and Turkey.

 

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