NIS and Betec Sign a Co-Operation Agreement on Developing Geothermal Energy in Serbia

Serbia | Geothermal Energy

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NIS a Serbian energy company and Betec a geothermal development firm in Belgrade have signed a Co-Operation Agreement on developing Geothermal energy in Serbia. The companies will jointly develop geothermal active areas in northern Serbia by drilling new production wells and building power plants based on the well head power plant technology. The drilling works are planned to begin in 2017 and the first power plant is planned to be commissioned within a year later. The projects will also include combined heat and power plants.

Mr Kirill Kravchenko, NIS´s CEO, said, “NIS aims to lead the growth of renewable energy in Serbia. For years, we develop a large number of energy efficiency projects, especially projects of cogeneration – electricity produced from gas. In cooperation with our partners, we will further develop our projects in the exploitation of geothermal resources and contribute to increasing of production of energy from renewable resources, and also contribute to energy independence of Serbia.”

Mr Kevin Cao, Kaishan’s CEO, noted, “KS Orka aims to be the leading global developer and operator of geothermal projects. KS Orka has prioritised investments in emerging economies and is targeting development of 500MW of power generation capacity over the next five years. The Co-Operation with NIS in Serbia is an important step towards achieving this goal in the Balkans.”

Source: nis.eu