Serbia and Azerbaijan have finalized negotiations on a joint venture that will build a combined-cycle gas power plant near Niš

Representatives of Serbia’s Ministry of Mining and Energy, the state-owned companies Elektroprivreda Srbije (EPS) and Srbijagas, as well as Azerbaijan’s state-owned oil company SOCAR, concluded negotiations in Istanbul on the shareholders’ agreement to establish a joint venture. The new company will be responsible for the design, construction, and operation of a combined-cycle gas power plant near Niš, BalkanEngineer.com learned from Balkan Green Energy News.

The project involves the construction of a combined heat and power (CHP) facility with a capacity of up to 500 MW of electricity and approximately 150 MW of thermal power. Construction is expected to take four years, and the total investment is estimated at nearly 600 million euros. The new power plant will help meet Serbia’s growing electricity demand and balance the national power grid.

The agreement between EPS, Srbijagas, and SOCAR is expected to be officially signed in Belgrade next month. The project represents the first joint venture between Serbia and Azerbaijan in the energy sector and builds upon the previously signed intergovernmental agreement on cooperation and long-term supplies of Azerbaijani natural gas.

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