Release date: 8 September 2023
Promoter – Financial Intermediary
ELEKTRODISTRIBUCIJA SRBIJE DOO BEOGRADLocation
Description
The project will finance the installation of about 1.1 m advanced electricity meters, including the related IT infrastructure, in the period 2023-2026. This is the first phase of the mass replacement of electromechanical meters foreseen in the country, amounting to approximately 3.7 m meters.
Additionality and Impact
The project concerns the installation of approx. 1.1 m advanced electricity meters in Serbia in the period 2024-2028, including the related IT infrastructure. It is the first phase of the mass replacement in the country that amounts to approx. 3.7 meters.
The investment in smart meters is included in the objectives of the "Integrated National Energy and Climate Plan of the Republic of Serbia for the period 2030 with the projections up to 2050" (NECP). The project is fully consistent with EU and national policies and targets on energy and climate and in line with the EU legislative instruments applicable to Serbia through the Energy Community treaty.
The EIB contribution will support the promoter in accelerating the implementation of energy efficiency investments, focusing on the Bank's priorities in terms of climate action and innovation objectives. It is 100% eligible under Climate Action and Environmental Sustainability.
The project sets an example of Team Europe Initiative, as a successful cooperation between EIB and EBRD, enabling the acceleration of the project and bringing forward the associated benefits. Installation of smart meters is expected to provide high frequency information to end-users (in accordance with Directive 2019/944 principles), enhance energy savings and support demand response thus addressing the market failure represented by incomplete markets.
The EIB financial contribution is substantial. The customised terms offered including the loan tenor and disbursement periods are otherwise not available on capital markets.
Objectives
The replacement of the existing meters will result in operational savings for the promoter, reduced non-technical losses, thus increasing energy market efficiency.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 80 million
Total cost (Approximate amount)
EUR 238 million
Environmental aspects
No significant environmental impacts expected. The EIB will evaluate the environmental aspects of the project and will review the relevant promoter's procedures applied to project to ensure that they are in line with EU standards and good industry practice.
Procurement
The EIB will require the promoter to ensure that the implementation of the part of the project financed from EIB will be done in accordance with the EIB's Guide to Procurement and the relevant applicable EU public procurement rules.
Status
Signed - 28/06/2024
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).