EPS, Chinese consortium ink agreement on construction of B3 power plant within TENT - Project worth over EUR 2 billion

(representatives of EPS and Chinese consortium signing agreement)

The Electric Power Company of Serbia (EPS) signed Thursday an agreement with a Chinese consortium on cooperation in the construction of B3 power plant within the power generation complex Nikola Tesla (TENT) in Obrenovac. The total value of the investment in the new coal-fired unit, with the capacity of 744 megawatts (MW), and Radljevo coal mine, which will feed that unit, exceeds EUR 2 billion.

The Chinese consortium includes companies China Environmental Energy and Shenzhen Energy Group, and the agreement also envisages investment in renewable energy sources.

The agreement was signed by Bili Ngok and Gao Zimin, chairmen of the boards of directors of Chinese companies, and Dragomir Markovic, director general of EPS.

The signing ceremony was attended by Serbian Minister of Foreign Affairs Vuk Jeremic, Ambassador of PR China to Serbia Jаng Vаng Sue, and Governor of the Chinese province of Guan Dong Huаn Huаhuа.

- The Protocol we've signed defines our activities for the following period, including a visit of the EPS expert team to referential facilities and project institutions in China, precise determination of project tasks for feasibility studies and preliminary designs, joint design of studies in line with the regulations of the PR China and the Republic of Serbia, final investment decisions, formation of a joint venture, provision of funding and, finally, construction and exploitation - said Dragomir Markovic, director general of EPS.