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EBRD gives up Kolubara B lignite power plant project in Serbia

Author: CEE Bankwatch Network, Published on: 9 September 2013

...The European Bank for Reconstruction and Development (EBRD) confirmed...that it is no longer interested in financing the 750 MW Kolubara B lignite power plant project near Belgrade in Serbia. The project is proposed by Serbian electricity company Elektroprivreda Srbija, with Italy's Edison as a strategic partner. In an e-mailed answer, the bank confirmed that “We have also informed the client that, should the project become active again, it will have to be assessed against the new energy strategy which has far more stringent rules and would make our possible participation very difficult.” This decision comes as the EBRD is in the process of reviewing its energy lending strategy. While the bank has shown little interest in dropping coal lending in the future document, it is still possible that significant pressure from campaigners and decision-makers around the world might force the bank to follow the example of the World Bank and the European Investment Bank in significantly limiting coal lending...Zvezdan Kalmar of environmental group CEKOR [said] “The fact that construction of the plant began in the 1980s means that it will be virtually impossible to ensure that the technology used meets the latest EU standards...We advise Edison to leave this sinking ship as soon as possible and concentrate on sustainable renewable energy projects instead”...

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Related companies: Edison (Italy)