Zvornik plant to be reconstructed

Serbia's public electric company EPS and German Development Bank KfW have signed agreement on reconstruction of Zvornik hydroelectric power plant. EPS General Director Dragomir Markovic and German Development Bank KfW's Vice President for Europe and Caucasus Roland Siller signed Friday a contract for the rehabilitation of Zvornik hydroelectric power plant worth EUR 70mn. Zvornik plant to be reconstructed Serbian Energy Minister Petar Skundric attended the signing and stated that the loan was given under very favorable terms and that the interest rate was yet to be precisely defined, but Siller added that the annual interest rate would probably be around 2.6 or 2.7 percent. Skundric said that rehabilitation would increase the capacity of this hydroelectric power plant from 96 MW to 120.4 MW, that is by 25 percent. Simultaneously, the generation of electric energy will increase from 477mn kWh to 551mn kWh on an annual basis, the energy minister said and added that he expected the works to start in 2012. German Ambassador to Serbia Wolfram Maas and Deputy Director General of the German Federal Ministry for Economic Cooperation and Development Ulla Mikota also attended the signing.

Zvornik plant to be reconstructed

Serbian Energy Minister Petar Škundrić attended the signing and stated that the loan was given under very favorable terms and that the interest rate was yet to be precisely defined, but Siller added that the annual interest rate would probably be around 2.6 or 2.7 percent.

Škundrić said that rehabilitation would increase the capacity of this hydroelectric power plant from 96 MW to 120.4 MW, that is by 25 percent.

Simultaneously, the generation of electric energy will increase from 477mn kWh to 551mn kWh on an annual basis, the energy minister said and added that he expected the works to start in 2012.

German Ambassador to Serbia Wolfram Maas and Deputy Director General of the German Federal Ministry for Economic Cooperation and Development Ulla Mikota also attended the signing.