BCE secures financing for €370m Belgrade waste-to-energy project in Serbia
May 27, 2020 – Beo Čista Energija (BCE) has secured financing for the construction of €370m Belgrade waste-to-energy project in Vinča, Serbia.
The 103MW project is backed by €290m financing by a pool of lenders including €128.25m in syndicated loan from European Bank for Reconstruction and Development (EBRD).
The waste-to-energy project will replace what it claims to be Europe’s largest unmanaged landfill, located 15km from the centre of Belgrade.
Expected to reduce greenhouse gas emissions and the dependence of Belgrade on fossil fuels, the site is planned to be fully remediated with a new sanitary landfill, a waste-to-energy plant and a modern facility.
The waste-to-energy facility, which is said to be one of the largest public-private partnerships (PPPs) in Serbia, will have a processing capacity of approximately 340,000 tonnes per year of household waste.
Additionally, the construction and demolition waste facility will have the capacity to treat 200,000 tonnes per year.
The new sanitary landfill, with a capacity of 170,000 tonnes per year, will be finalised by the end of 2020.
EBRD Western Balkans regional director and Serbia head Zsuzsanna Hargitai said: “Continuing the work at the Vinča landfill demonstrates the joint priority of the public and private partners and their lenders such as the EBRD to create a clean and healthy environment.
“The EBRD stands united with other financiers to bring the Vinča project to its successful completion and start of operations as planned.
“The EBRD is also pleased to support the project implementation by extending technical assistance to the city of Belgrade for the establishment of a PPP monitoring unit and its capacity-building.”
Beo Čista Energija is a special-purpose vehicle formed by France’s SUEZ, Japan-based ITOCHU and the European fund Marguerite. The project is planned to be completed in 2022.