European Sting
Summary
The European Bank for Reconstruction and Development (EBRD) is providing a sovereign loan of up to €105 million to Serbia, through the Ministry of Finance, to benefit Novosadska Toplana Novi Sad, the district heating company of Novi Sad. The project is expected to be co-financed by an investment grant of up to €21 million, plus €3 million of project implementation assistance, from the European Union (EU) and other donors through the Western Balkans Investment Framework (WBIF).
The loan will finance the construction of a large-scale solar-thermal power plant in Novi Sad, featuring 38,600 m² of solar collector fields, an 850,000 m³ seasonal heat storage system, a 17 megawatt (MW) heat pump and a 60 MW electric boiler, incorporating advanced power-to-heat technology.
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