According to Serbian Economist, the Serbian government has approved a shareholders’ agreement between the state-owned companies Elektroprivreda Srbije (EPS), Srbijagas, and Azerbaijan’s SOCAR.
The new joint venture will be responsible for financing, constructing, and operating a gas-fired power plant in Niš.
The government’s decision on this matter was published in the official gazette, “Službeni Glasnik.”
The plant’s planned capacity is up to 500 MW. The facility will use combined heat and power (CHP) technology.
This approach allows for more efficient use of natural gas, as the heat generated during electricity production is also used for heating or other utility needs.
The project will mark a continuation of energy cooperation between Serbia and Azerbaijan. SOCAR is Azerbaijan’s state-owned oil and gas company and participates in international projects involving the extraction, transportation, and supply of energy resources.
The establishment of the joint venture paves the way for further preparation of the investment project; however, construction has not yet begun, and the final cost of the power plant has not been announced.
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