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Serbia and Italy agreed FIT for Serbia-produced power

Serbia and Italy have agreed feed-in tariffs for renewable-based electricity generated from renewable sources in the Balkan nation, said Serbia’s Infrastructure Ministry. The agreement will guarantee Serbia EUR155/MWh (US$215.40/MWh).

“The Italian government will … pay one of highest feed-in tariffs in the European Union,” the ministry statement said. “With this, Serbia’s budget will secure significant revenues.”

In 2009 and earlier this year, the two countries signed deals worth EUR1.1bn to boost the share of renewables in their energy generation. Serbia’s state-run utility EPS and Italy’s Seci Energia will jointly invest EUR819m in three hydropower plants with a combined capacity of 365MW on the Drina river by 2014. In addition, an extra EUR300m investment will see the building of 10 small hydropower plants with a joint capacity of 10.32MW on the Ibar river.

The electricity will be exported to Italy via Montenegro and an underwater cable across the Adriatic Sea.

Both schemes will help Italy derive 17% of its power demand from renewable sources by 2020.

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