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Belgrade Waste to Energy Project Progresses despite Pandemic

Infra News - Published on Wed, 27 May 2020

Image Source: Belgrade Waste to Energy Project
The Belgrade waste-to-energy project in Vinca, which will provide the 1.7 million inhabitants of the Serbian capital with a modern waste management system, has reached financial close. As all the conditions of the financing agreement have now been fulfilled, lenders are starting loan disbursements to support the timely implementation of the project. The new facility will replace Europe’s largest unmanaged landfill, located just 15 kilometres from the centre of Belgrade and holding more than 10 million tonnes of waste after more than four decades of operation. The site will be fully remediated with a new sanitary landfill, a waste-to-energy plant and a modern facility to process construction and demolition waste.

This landmark EUR 370 million project is one of the largest public-private partnerships in Serbia to date and brings private funding and expertise to a public sector project. A total of EUR 290 million in debt is provided by a pool of lenders.

The European Bank for Reconstruction and Development is contributing a EUR 128.25 million syndicated loan, including a loan of EUR 72.25 million for its own account, a loan of EUR 35 million provided by Erste Group Bank AG under the A/B loan structure, and EUR 21 million in concessional finance from the Green Energy Special Fund, which is funded by TaiwanICDF.

Construction of the new facilities started in October 2019 and continued throughout the recent public health measures in Serbia. The private investors – SUEZ (France), ITOCHU Corporation (Japan) and the European fund Marguerite – made sure that project implementation continued despite the challenges posed by the Covid-19-related restrictions, and all preconditions for financial close have been met successfully.

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Posted By : Yogender Pancholi on Wed, 27 May 2020
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