Government confirms EUR 105 million loan from EBRD for construction of solar-thermal power plant in Novi Sad

The Government of Serbia has adopted the Draft Law on the Ratification of the Loan Agreement between the Republic of Serbia and the European Bank for Reconstruction and Development (EBRD) for the construction of a solar-thermal power plant in Novi Sad. This agreement, signed on December 27, 2024, will enable financing of the project in the amount of up to EUR 105 million.

The solar-thermal plant to be built in Novi Sad with a seasonal heat storage capacity of 870,000 m³, solar collectors with an area of 37,000 m² (31 MW), a heat pump (17 MW) and e-boilers (60 MW) will enable annual savings of 17,350 tons of CO₂ and the production of approximately 243 GWh of thermal energy.

The implementation of this project is part of the EBRD’s Green Cities Action Plan, and it will further enhance the role of TE-TO Novi Sad in the district heating system, delivering up to 363 GWh of heat energy annually.

The EBRD loan includes two tranches (EUR 85 and 20 million), with a repayment period of 15 years and the project completion planned by the end of 2028. The project leader is the PUE Novosadska toplana, with technical support from the Ministry of Mining and Energy and financial coordination from the Ministry of Finance.

Vlada Republike Srbije

EBRD Evropska banka za obnovu i razvoj Beograd

JKP Novosadska toplana Novi Sad

Ministarstvo rudarstva i energetike Republike Srbije

Ministarstvo finansija Republike Srbije

Government of Serbia

European Bank for Reconstruction and Development

EBRD

PUE Novosadska Toplana

Ministry of Mining and Energy

Ministry of Finance

Western Balkans Investment Framework

WBIF

Sustainable Energy and Climate Action Plan

SECAP

Green Cities Window 1 Framework

solar thermal power plant