Serbia: Power utility EPS six months profit amounts to EUR 106.4 million

, News Serbia Energy

In the first six months of 2016, Electric Power Industry of Serbia achieved a profit of EUR 106.4 million, which is EUR 81.2 million more than planned, said the Executive Director of Electricity Generation Technical Affairs Savo Bezmarevic.

He pointed out on Serbian Economic Summit that a savings of EUR 112 million has been achieved. “Annually, EPS invests on average EUR 200 to 300 million in the technical sector,” said Bezmarevic.

He explained that all the plants were constructed between 1960 and 1980 and are about 40 years old. As he said, the revitalization has been initiated in 2000, when the reconstruction of thermal power plants and modernization of hydropower plants have started.

“The most important EPS project in this moment is the “Green Project” in MB “Kolubara” in which EUR 180 million have been invested, and is related to the homogenization of coal quality. The plan is to complete the project in 2018”, he said.

Bezmarevic added that the modernization of hydropower plant in Zvornik is underway, in which EUR70 million has been invested, and the production will be increased by 30 percent.

According to him, EUR 70 million has been invested in the revitalization of B2 unit of TPP Nikola Tesla after 30 years, which will increase the capacity by 30 megawatts.

He pointed out that the largest project is the construction of a new unit in Kostolac thermal power plant of 350 megawatts capacity, which is being implemented with a Chinese partner. This thermal unit of the latest technology and it meets the highest standards of environmental protection.