Renewable District Energy Serbia

disbursing

Provision of a sovereign loan of up to EUR 30 million to the Republic of Serbia (the "Client") to finance investments in Renewable District Energy ("ReDE") in several District Heating Companies ("DHCs") across the country, and accompanying energy efficiency measures including reconstruction of substations and existing district heating network (the "Project"). The Project will support integration of solar-thermal, heat pump, and geothermal technology in existing district heating ("DH") systems in ten cities in Serbia (Pancevo, Vrsac, Kraljevo, Nis, Bogatic, Becej, Krusevac, Novi Pazar, Paracin and Kragujevac). The sub-projects were assessed and selected through the Renewable District Energy in the Western Balkans Programme ("ReDEWeB") established by the EBRD in 2019. ReDEWeB was set up in partnership with the Government of Austria to incentivise reforms and create an enabling environment for financing ReDE investments in the Western Balkans. The Project is expected to be co-financed by investment and technical assistance grants from the Swiss State Secretariat for Economic Affairs ("SECO") and European Union under the Regional Energy Efficiency Programme ("REEP").