Belgrade Municipal Solid Waste Treatment Plant

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The project involves the construction of an energy-from-waste facility, a facility for construction and demolition waste, the remediation, closing and aftercare of the existing landfill and the construction of a new EU-compliant landfill in Belgrade, Serbia. It will replace the existing landfill in Vinca, a suburb of Belgrade. It will treat waste from 13 municipalities of the City of Belgrade for a volume of approximately 510,000 tons/year and treatment of Construction and Demolition Waste in a volume of approximately 200,000 tons/year. The SPV Beo Cista Energija doo, jstablished by SUEZ (40%), Itochu (40%) and Marguerite Fund (20%). The sponsors entered into a 25-year public-private partnership (PPP) under design, build, finance, operate, transfer (DBFOT) agreement with the City of Belgrade in 2017. The project cost is EUR 383.04 million ($416.35 million) to be financed by a mix of debt and equity. EBRD is contributing a loan of EUR 72.25 million ($78.9 million). A loan of EUR 35 million ($38.35 million) is provided by Erste Group Bank AG under the A/B loan structure, and EUR 21 million ($23.01 million) is provided in concessional finance funded by TaiwanICDF. International Finance Corporation (IFC)’s financing includes an A loan of up to EUR 72.2 million ($79 million); a parallel loan from Oesterreichische Entwicklungsbank (OeEB) of up to EUR 35 million ($38.35 million); a B loan of up to EUR 35 million ($38.35 million); and a concessional senior loan of up to €20 million ($21.9 million) from the Canada-IFC Blended Climate Finance Program. Unicredit provided additional $ 38.35 million towards project implementation. MIGA guarantees of EUR 97.3 million ($106.44 million) are provided against non-commercial risks. Financial close was reached on May 25, 2020, when all the conditions of the financing agreement have been fulfilled and lenders have started loan disbursements. https://www.ebrd.com/news/2020/belgrade-wastetoenergy-project-progresses-despite-pandemic-.html https://www.ebrd.com/news/2019/belgrade-to-get-new-waste-management-facilities.html https://www.ebrd.com/work-with-us/projects/psd/belgrade-solid-waste-ppp.html https://bdkadvokati.com/financing-agreements-for-the-vinca-waste-to-energy-ppp-signed/ https://disclosures.ifc.org/#/projectDetail/SII/37838 https://ifcextapps.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/EE6C1970917B54FD85258488007B6933 https://www.suez.com/en/news/press-releases/the-city-of-belgrade-chooses-suez-and-itochu https://www.suez.com/en/news/press-releases/marguerite-joins-suez-and-itochu-in-their-public-private-partnership-with-the-city-of-belgrade https://www.suez.com/en/news/press-releases/the-consortium-lead-by-suez-signs-a-25-year-contract-to-sell-heat-from-the-energy-recovery-of-belgrade-waste https://www.itochu.co.jp/en/news/press/2019/191002.html https://www.itochu.co.jp/en/news/press/2017/171002.html https://www.miga.org/press-release/ifc-and-miga-support-pioneering-waste-energy-ppp-project-belgrade https://ijglobal.com/data/transaction/31669/belgrade-municipal-waste-treatment-plant-ppp