The European Bank for Reconstruction and Development (EBRD) has signed a loan agreement to fund the construction of a solar-thermal power plant in Novi Sad, Serbia. The agreement, finalized in late December 2024, provides up to 105 million euros in financing for the project.
The planned solar-thermal plant in Novi Sad will feature a seasonal heat storage capacity of 870,000 cubic meters, 37,000 square meters of solar collectors (31 MW), a 17 MW heat pump, and 60 MW of electric boilers. Once operational, the plant is expected to save 17,350 tons of CO2 annually and produce around 243 GWh of thermal energy.
This project is part of the EBRD’s Green Cities Action Plan and aims to strengthen the role of TE-TO Novi Sad in the district heating network, with the capacity to supply up to 363 GWh of heat energy annually. The loan is structured in two tranches—85 million euros and 20 million euros—with a 15-year repayment term. The project is expected to be completed by the end of 2028.
