EPS signs Memorandum of Cooperation with Canadian-Chinese consortium for Bistrica reversible power plant

The Electric Power Company of Serbia (EPS) and a consortium of Canadian and Chinese companies signed today a Memorandum of Cooperation for the development of the Bistrica reversible hydro power plant project, whose value is estimated at about EUR 600 million.

This MoC was signed by EPS Director General Dragomir Markovic, Vice President of the Hydro Power Plants and Power System Division of Canada's SNC-Lavalin Jean Francois Bacle and Deputy CEO and Finance Director of China Nuclear Power Engineering Zhang Kibo.

Markovic announced that the preparation of technical documentation for that 680-megawatt power plant would start immediately, assessing that the construction of the reversible hydro power plant Bistrica on the Lim river was of great importance for Serbia and the region because it would provide additional security to the energy system, especially when there was not enough electric energy and when the demand for electricity was at its peak.

It will take five to six years to build that hydro power plant. The project implementation will require the engagement of domestic experts and construction companies, Canadian technology and Chinese funds, it was said after the signing of the MoC.

According to that document, the power companies from the three countries will also work together on the preparation of a feasibility study and an environmental impact assessment and the design of a financial plan for the construction of the reversible hydro power plant Bistrica.