Issues with Serbian electricity company EPS need to be addressed within new EBRD loan
February 1, 2016
As part of its new EUR 200 million loan to the Serbian electricity company EPS, the European Bank for Reconstruction and Development aims to assist with “identifying opportunities to improve environmental, safety, social, and labour governance and capacity, and on helping EPS to develop a more strategic approach to managing these issues”. As outlined in this briefing, so far the EBRD’s fifteen-year partnership with EPS has not brought visible improvements in company practices and it is high time for the bank to prove that its engagement can add value.
Pljevlja II lignite power plant, Montenegro
October 7, 2014
CANCELLED: For several years the Montenegrin authorities planned a second unit at the Pljevlja lignite-fired power plant in the north of Montenegro, near the borders with Serbia and Bosnia-Herzegovina. An existing plant has been operating there since 1982. In 2019 the authorities finally admitted the second unit would not be built.
Tuzla 7 lignite power plant, Bosnia and Herzegovina
October 7, 2014
CANCELLED: The 450 MW Tuzla 7 project has become an iconic example of the clash between Chinese-backed investments and EU standards in the Balkans. The lead contractor was to be the China Gezhouba Group Co. and a financing deal was signed with the China ExIm Bank in November 2017. However, in April 2024, the cancellation of the works contract was reported to have taken place.
Banovici lignite power plant, Bosnia and Herzegovina
October 7, 2014
The 350 MW Banovići coal power plant project was planned alongside the existing Banovići mine just a few kilometres away from Tuzla by the predominantly state-owned RMU Banovići (Banovići Brown Coal Mines).
Ugljevik III lignite power plant, Bosnia and Herzegovina
October 7, 2014
Since 2013, the concession for the Ugljevik III lignite power plant near Bijeljina in Republika Srpska, Bosnia and Herzegovina, has been held by Comsar Energy, owned by Russian billionaire Rashid Sardarov. But as of early 2026, Republika Srpska is buying out Comsar, which is expected to result in the cancellation of the plans.
Stanari lignite power plant, Bosnia and Herzegovina
October 7, 2014
EFT’s 300 MW Stanari power plant, constructed by China’s Dongfang, and financed by the China Development Bank, is located near Doboj in Bosnia-Herzegovina, in the Republika Srpska part of the country.
Kolubara B lignite-fired power plant, Serbia
October 6, 2014
CANCELLED: The Kolubara B thermal power plant site is situated near Kalenic village, 60 km south-west of Belgrade, at the northern side of the Tamnava Open Cast Mine. After repeated attempts to build it, it was declared cancelled in 2021.
Kostolac B3 power plant, Serbia
October 6, 2014
In December 2024, Serbia’s state-owned utility Elektroprivreda Srbije commissioned a new 350 MW lignite plant at Kostolac in the country’s north-east. The project received high level support and Chinese financing, but is plagued by concerns over its economics, pollution and legal irregularities.
The energy sector in Serbia
October 1, 2014
Serbia is mostly an energy importer of oil and natural gas which, along with coal products constitute around 90% of its yearly energy consumption. Although the country has produced oil and gas in small quantities since the mid-50s, it is heavily reliant on imports, mostly from Russia. In March 2013 a long-term deal was signed with Gazprom to extend gas imports of more than 2.5 billion cubic meters up to 2021 with a 13 per cent reduction for current prices.
The energy sector in Montenegro
October 1, 2014
With around 650 000 inhabitants, Montenegro’s electricity needs are currently satisfied by just one 210 MW coal power plant at Pljevlja (around one third of electricity), and hydropower plants (the remaining two thirds). Hydropower comes mainly from the 307 MW Perucica and 342 MW Piva plants, with the remainder from other much smaller hydro facilities. New forms of renewable energy are hardly used at all in the country, despite significant potential in some regions.
