The Serbian Government has approved the ratification of the EPS green financing agreement with the European Investment Bank (EIB), securing a loan of 100 million euros to enhance the country’s hydropower capacity. The agreement, signed on December 27, 2024, will fund upgrades to existing hydropower facilities in Serbia, specifically targeting two major projects: the rehabilitation of HPP Bistrica and the refurbishment of HPP Potpec.
The allocated funds include 45.8 million euros for HPP Bistrica and 54.2 million euros for HPP Potpec, which will also include the construction of a new fourth unit. The loan has a 25-year repayment term, with the implementation of the projects set to take place between 2024 and 2030. Once modernized, these plants are expected to ensure stable electricity generation for the next 30 to 40 years.
HPP Bistrica, built in 1960 with an installed capacity of 2 x 51.3 MW, will undergo a comprehensive overhaul. The rehabilitation includes replacing turbines and upgrading hydromechanical, electrical, and mechanical equipment to improve efficiency and reliability. At HPP Potpec, the existing units will see an increase in installed capacity from 3 x 18 MW to 3 x 20.5 MW. A new fourth unit with a capacity of 13 MW will also be added, raising annual electricity production from 213 GWh to approximately 236.7 GWh.
The project will also involve replacing outdated equipment, performing necessary construction work, and modernizing the plant’s monitoring and management systems.
