The European Bank for Reconstruction and Development (EBRD) has invested up to EUR 105 million (US$ 109.5 million) in a large-scale solar-thermal plant in Novi Sad, Serbia.
The project is expected to be co-financed by an investment grant of up to EUR 21 million (US$ 21.5 million), plus EUR 3 million (US$ 3.08 million) of project implementation assistance, from the European Union (EU) and other donors through the Western Balkans Investment Framework (WBIF).
The loan will benefit Novosadska Toplana Novi Sad, the district heating company of Novi Sad and finance the construction of a large-scale solar-thermal power plant in Novi Sad, featuring 38,600 m² of solar collector fields, an 850,000 m³ seasonal heat storage system, a 17 MW heat pump and a 60 MW electric boiler, incorporating advanced power-to-heat technology. Novosadska Toplana Novi Sad will implement the project in conjunction with the Ministry of Mining and Energy, the city of Novi Sad, and the state power company Elektroprivreda Srbije (EPS).
