In the following months EPS is expecting to start the investments into renewable energy projects. Joint venture company registration with Italian Edison for new power plant Kolubara B of 750MW.
Electric Power of Serbia (EPS), state owned energy company in 2011 recorded the profit of 26,8 billion dinars and value of the company reached 1.254 billion dinnars, around 12 billion euros, stated Markovic, general Manager of EPS on media working breakfast.
He stated that last year profits will be invested in the system, which was in the last years around 400-500 mil euros. According to Markovic the 2011 was important and with several records, both in coal mining and supply sector but also in thermal power plants power gen sector, while the hydrological situation influenced lower production in hydropower plants. Despite the electricity import in 2011, EPS was a net exporter with 245 mil kwh of electricity.
The created picture in Serbian medias that EPS is an electricity importer is not true, says Markovic. According to the increasing consumption projections EPS could become an importer but starting from 2014, but only if no new power gen facility is build and with note that has the obligation to supply the complete Serbian market which is not in accordance with new energy law.
Power plants produced 8.9% more than balances and plans, while hydro power plants produced 12,6% less than planed. Mining company Kolubara, TENT and Kostolac power plant made the records in production of coal and electricity in case of power plants.
Markovic also reminded on plans and investments into green energy projects, some already started within the Ibarske hydropower plants with Italian Secci and Moravske Hydropowerplant with german company RWE Inogi. The value of Ibarske project is 300 mil euro, and Moravske 360 mil euro. Also the overhaul season started in EPS facilities in value of 180 mil euro.
EPS is also expecting the realization of chinese loan in Kostolac plant in value of 200 mil euro. One of the biggest investments is expected with Italian Edison for Kolubara B new coal thermal power plant, of 750MW.
For august 2012 EPS is expecting to finalize the feasibility for TENT B3 new power plant, in partnership with Chinese consortium, but also the completion of the analysis for Radljevo coal pit expansion. The value of this project is 2,3 billion euros.
EPS got the offer for CHP plant Novi Sad, negotiation to follow but this plant should be in operation by end of 2014.
FGD project, value of 250 mil euro obtained from Japanese soft ODA loan should start soon also on TENT A power plants which is the biggest Serbian and regional SEE electricity producer.