Serbia: Waste-to-energy project’s financing structure completed, News Serbia Energy
A project for the construction of waste-to-energy facility at Vinca landfill near Belgrade has successfully reached a financial close for a 290 million euros loan by a pool of lenders, according to the European Bank for Reconstruction and Development (EBRD).
This 370 million euros project is one of the largest public-private partnerships in Serbia to date and brings private funding and expertise to a public sector project. The EBRD is contributing a 128.25 million euros syndicated loan, including a loan of 72.25 million euros for its own account, a loan of 35 million euros provided by Erste Group Bank AG under the A/B loan structure, and 21 million euros in concessional finance from the Green Energy Special Fund, which is funded by TaiwanICDF.
Private investors – Suez (France), Itochu Corporation (Japan) and the European fund Marguerite launched the construction of the new facilities started in October 2019. It will replace Europe’s largest unmanaged landfill, located just 15 kilometers from the center of Belgrade and holding more than 10 million tons of waste after more than four decades of operation. The site will be fully remediated with a new sanitary landfill, a waste-to-energy plant and a modern facility to process construction and demolition waste. The new landfill will be EU-compliant, with modern waste-management and treatment technology.
The 103 MW waste-to-energy facility will contribute to reducing greenhouse gas emissions and the dependence of Belgrade on fossil fuels. It will have capacity for a volume of approximately 340,000 tons per year of household waste, while the construction and demolition waste facility will treat 200,000 tons per year.
The new sanitary landfill, with a capacity of 170,000 tons per year, will be finalized by the end of 2020, while project completion and full commercial operations are expected in 2022.
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