Serbia: GazmpromNeft NIS plans 53MEUR for RES investments

12. July 2013. / News Serbia Energy

Serbian oil and gas company NIS [BEL:NIIS] plans to invest 6.0 billion dinars ($70.3 million/52.7 million euro) in renewable energy projects by the end of 2014.

The pipeline of renewables projects includes 3.03 billion dinars in investments in the construction of amine gas treatment plants and related activities while the remainder will be earmarked for the construction of cogeneration units, NIS said in a statement.

The investment program will enable NIS to utilise by the end of 2014 up to 90% of dissolved gas at its sites which amounts to 90 million cubic metres.

NIS also said it put into operation on Wednesday a 1.2 million euro ($1.6 million) cogeneration plant in the eastern town of Sirakovo. The new plant has an 850 kilowatt capacity and is set to produce 6.12 million kilowatt-hours of electricity annually.

As part of the program for the utilisation of dissolved gas, NIS plans to put on stream seven more cogeneration units with a total capacity of 7.65 megawatts (MW) in 2013 on which it plans to spend over 10 million euro. The company’s cogeneration capacity is set to increase to 25 MW by the end of 2014.

Source;Nis/Serbia Energy

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