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Home/Market News & Opportunities/Market News & Opportunities/EBRD considers granting loan of 18.5 million euros to Novosadska Toplana

EBRD considers granting loan of 18.5 million euros to Novosadska Toplana

The European Bank for Reconstruction and Development (EBRD) considers granting a loan of 18.5 million euros for renovation and modernization of the heating system in Novi Sad, the creditor announced on its website.

The loan would be granted to the public utility company Novosadska Toplana (the Novi Sad Heating Plant), which produces and delivers heating energy and hot water to the city of Novi Sad.

A total value of the project, aimed at increasing energy efficiency and reforming the tariff system, is estimated at 20.6 million euros.

The European creditor will make a decision on the loan for Novosadska Toplana in mid-March.

The modernization of Novosadska Toplana, the second largest heating plant in Serbia, includes modernization of substations and a biomass pilot project.

Installation of heat cost allocators and thermostatic radiator valves in pilot buildings is also in the pipeline and, in that way, Novi Sad would be the first town in Serbia to fully implement a system allowing consumers to control their consumption of heat.

The public utility company Novosadska Toplana currently supplies about 75% of residential facilities in Novi Sad with heating energy.

Source ekapija.com