Joint
Stock Company Elektroprivreda Srbije and SOCAR company from Azerbaijan have
signed today Term Sheet for development, construction and operation of
gas-fired power plant in Niš. The document has been signed by EPS General
Manager, Dušan Živković and Rovshan Najaf, SOCAR President, during the Baku
Energy Week in the presence of the President of the Republic of Azerbaijan, Ilham
Aliyev.
- Signing
the document represents an important step towards implementation of the project
that will further enhance energy security of Serbia and support diversification
of energy sources and green transition. The goal is to have new baseload production
capacity with installed capacity up to 500 MW on the grid by 2030 – said
Minister of Mining and Energy, Dubravka Đedović Handanović.
She
highlighted that cooperation with SOCAR company confirmed a strong partnership
between Serbia and Azerbaijan in the field of energy and opened space for new
joint projects of mutual importance.
- The
foundations of such successful cooperation between the two states are
exceptionally strong and friendly relations between the President of the
Republic of Serbia Aleksandar Vučić and the President of Azerbaijan Ilham Aliyev,
which have provided a strong boost to further development of overall bilateral
relations and particularly the cooperation in energy sector – said Đedović
Handanović.
The
document defines key principles for establishing a joint venture for
development and implementation of the project, as well as main commercial
aspects of the future cooperation.
- With
this project, EPS continues the transformation of its production portfolio and strengthens
capacities for stable and reliable electricity supply to households and
industry. Partnership with SOCAR enables us to bring together experience and
resources in order to implement modern energy facility that will contribute to long-term
sustainability of power system of Serbia – said Dušan Živković after the
signing ceremony.
Gas-fired
power plant in Niš is a strategic energy project within the cooperation between
Serbia and Azerbaijan for which the states signed an agreement in the presence
of the presidents of the two states, in February this year.
