Recent news reports are informing us that an Anglo-Chinese consortium, consisting of British companyScarborough Group International and the Chinese owned China National Electric (CNEEC) company, has signed a contract to build a thermal power plant in Loznica, in the amount of €230m. The consortium received additional financial support from the China Development Bank, while the Chinese insurance company Sinosure also showed interest in participating in the project.
The construction of the plant – with a planned capacity of 240MW – will be undertaken by CNEEC, as the first phase of the project (120MW of the total capacity) is expected later this year, with the estimated completion by the end of 2018. The second phase of the project (the remaining 120MW) should start the following year.
According to the consortium, the aim of this project will be to convert the obsolete coal-fired plants into pure organic plants, at the same time bringing an array of different benefits to Serbia including 150 work places, a boost to the local economy in Loznica, as well as a reduced national dependency on imported electricity and overall improved energy security.