Elektroprivreda Srbije started building a new thermal plant

Elektroprivreda Srbije (EPS) started the construction of a new 350 MW thermal plant - Kostolac B3. This will be the third unit of Serbia’s TPP Kostolac B and is the first large thermal capacity being built in the country after almost three decades, EPS noted in its official press release. The TPP’s expected annual generation is about 2,5 billion kilowatt-hours of electricity.

The construction of the B3 unit is just one of the projects we are implementing with partners from China, and its total value amounts to six billion dollars”, Ana Brnabic, Serbian Prime Minister, said at the ceremony marking the start of the construction in the town of Kostolac.

EPS is providing 15 percent of the project financing (USD 613 million), and the remaining funds will be financed by a bank loan from the Chinese Exim Bank, Brnabic added.

The construction of Kostolac B3 unit is expected to be completed in the next four years, and it will increase total EPS production capacities by about five percent”, Milorad Grcic, PE EPS acting director noted.