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lectric Power Industry of Serbia (EPS) invests in renewable energy sources

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Prime Minister Mirko Cvetkovic said yesterday that the White Paper of Electric Power Industry of Serbia (EPS) is a strategic document of EPS and a milestone in the company’s investment activities in the field of renewable energy and increasing energy efficiency.

Speaking at a presentation of the EPS White Paper, Cvetkovic said that this way EPS is moving towards EU targets by 2020 in the field of renewable energy sources and improving energy efficiency.

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He noted that EPS is a strategic company for Serbia, as this public company annually invests about €400 to €500 million in capacity expansion and maintenance.

The Serbian Prime Minister said that it is important to encourage other sectors of the Serbian economy and added that the government supports the investment activities of EPS and its investment in renewable energy.

EPS General Manager Dragomir Markovic said that the EPS White Paper shows the company’s activities in the field of renewable energy, energy efficiency and application of advanced technologies in order to combat climate change.

The White Paper includes national and EU regulations for the energy sector, as well as projects of EPS in the field of renewable energy and energy efficiency, for which investors are yet to be found while financial structure has already been closed for some of the projects.

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A protocol on cooperation between the Ministry of Agriculture, Trade, Forestry and Water Management and EPS, worth €90 million, was also signed today by Minister of Agriculture, Trade, Forestry and Water Management Dusan Petrovic and the EPS General Director.

The field of cooperation will include the construction of hydroelectric power plants, wind generators, use of solar energy and biodegradable waste, as well as increasing energy efficiency in rural areas.

Petrovic said that the White Paper is a new stimulus to EPS’s investment cycle which should be endorsed, stressing that over the next two years, 34 hydroelectric mini-power plants will be jointly built.

The enormous potential of renewable energy sources will be at our disposal as of this year already, the Minister observed.

The EPS General Manager, CEO of RWE Innogy Fritz Vahrenholt and director of this company’s hydro and new projects Olah Heil today signed an agreement on founding a new joint company Moravia Hydroelectric Power Plants, for the construction of five hydroelectric power plants on the Velika Morava River.

The joint venture company will be an independent producer of electricity and in the years to come it will build at least five plants on the Velika Morava River, with the total power of 150 megawatts.

A preliminary agreement to build solar power plants on Mt Zlatibor, with the power of five megawatts, was also signed between EPS, Dunav Osiguranje insurance company and the municipality of Cajetina, which is an example of how a project from the EPS White Paper is implemented.

The document was signed by EPS Director General Dragan Markovic, Director General of Dunav Osiguranje Milenko Jezdimirovic and Mayor of Cajetina Milan Stamatovic.

The EPS White Paper will be presented at a regional investment conference in Vienna on 25 May and on 27 May in Brussels, said the General Manager of EPS.


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