Serbia, EBRD to finance the installation of smart electricity meters in Cacak, Nis and Kraljevo

, News Serbia Energy

Electricity distribution system operator Elektrodistribucija Srbije signed with the European Bank for Reconstruction and Development (EBRD) a loan agreement worth 40 million euros in order to finance the installation of smart electricity meters in Cacak, Nis and Kraljevo.

State Secretary at the Ministry of Mining and Energy Sasa Stevanovic said that total cost of the project is around 80 million euros, and the EBRD loan will enable the realization of the first phase which envisages the installation of 205,000 smart electricity meters. The first phase should be completed by 2025 and the entire project by 2027.

Serbian Minister of Mining and Energy Zorana Mihajlovic said that the goal is that every part of Serbia has a reliable supply of electricity, and that investments in the distribution network will contribute to that. She pointed that losses in the distribution network currently amount to more than 200 million euros and the installation of smart meters is one of the ways to reduce that amount.

The project will contribute to the reduction of CO2 emissions by 5,000 tons per year, but also help everyone who is on the path of energy transition, i.e. prosumers who will produce and consume energy from renewable sources. She said that the state has provided guarantees for the EBRD loan and that she would discuss with all international partners how to invest more in the distribution network, because it is the basis for energy security.