Italy’s Maccaferri to Build Hydropower Plants in Serbia

Italy’s Maccaferri Group will start building 10 small hydropower plants in Serbia by mid-2013, Serbian Prime Minister Ivica Dacic’s office said today.

The plants along the Ibar River will cost 350 million euros ($455.35 million) to build, Dacic’s office said in an e-mailed statement. It’s ‘the first part of a strategic project for the construction of hydropower capacities in Serbia and the Bosnian Serb republic worth 2 billion euros.’’

Maccaferri Group’s Seci Energia SpA and Serbia’s state-run power monopoly Elektroprivreda Srbije first signed a deal in February 2011 to develop plants along the border between Serbia and Bosnia-Herzegovina, as part of Italy’s effort to meet a goal of deriving 17 percent of power consumption from renewable sources by 2020.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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