The European Bank for Reconstruction and Development (EBRD) has appointed a consortium to oversee the refurbishment of the Vlasinske hydropower plants, a central part of Serbia’s broader initiative to modernize its energy infrastructure.
The project is being implemented by state-owned power utility EPS, which formalized the supervision contract on 1 December. Valued at €2.49 million, the contract was awarded to a joint bid by Switzerland-based Gruner Stucky, together with Gruner Balkans and Netinvest, both headquartered in Belgrade.
Under the agreement, the consortium will provide comprehensive technical and professional supervision of all works. This includes monitoring construction in line with FIDIC standards, ensuring adherence to Serbian regulations, and supporting the application of environmental and social safeguards throughout the rehabilitation process. The supervision assignment is scheduled to continue until mid-January 2031. The procurement followed a single-stage, open consulting procedure conducted in line with EBRD rules for the energy sector.
This supervision contract comes after the signing of the main reconstruction and modernization agreement for the Vlasinske HPPs in early November, concluded between EPS and the local contractor Energotehnika Južna Bačka. The total investment for the project amounts to €109.7 million, covering the overhaul of generating units, auxiliary systems, and hydromechanical equipment. The supply of key components, including turbines and generators, will be provided by internationally recognized manufacturers Andritz Hydro and Gamesa Electric, ensuring high-quality execution of the modernization works.
