W&W Crkvina & Recica SHPPs

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W&W Energy, from Kragujevac, Serbia, developed the 0.96MW Crkvina and 1.4MW Recica small hydropower plants, on the Bistrica river, Serbia. Crkvina was expected to generate 4.3 million kWh annually. Recica was expected to generate 6.7 milion kWh annually. Construction started in September 2012. Commissioning was expected for January 2013. Output was expected to be sold to state-owned utility company Elektromreza Srbija (EMS) from March 2013 onward. Total cost for Crkvina was EUR1.25 million (US$ 1.63 million). Total cost for Recica was EUR2.0 million (US$ 2.6 million). The projects were financed by Erste Bank Serbia, a local subsidiary of Erste Bank. The debt/equity ratio was 80/20. The Corporate Wire, Erste Bank Serbia funds 12.5 million euro in renewable energy projects, 7 September 2012.