Ensuring Serbia's energy security and supporting the decarbonization of the country's electric sector, contributing to accelerating the green transition of the Western Balkans through financial instruments tied to specific sustainability goals. These are the main objectives behind the €100 million financing provided by Cassa Depositi e Prestiti (CDP) to Elektroprivreda Srbije Beograd (EPS), the largest and main electric utility company in Serbia.
In the long term, CDP supports the decarbonization efforts of Serbia through the implementation of policies and strategies aimed at accelerating the company’s transition to a sustainable electricity production system.
The funds allocated by CDP will be tied to meeting a series of sustainability criteria, contributing to global efforts to mitigate climate change, also in line with the United Nations' 2030 Sustainable Development Goals. Specifically, EPS will be required to ensure a significant increase in electricity production from renewable sources (especially wind and solar), the total decarbonization of its portfolio by 2050, and the adoption of inclusion and gender equality policies to promote equal opportunities within the organization.
Thanks to the "policy-based" mechanism, the financing program is tied to the progressive liberalization of the energy sector in Serbia through development in the renewable sector, which could create significant opportunities for Italian companies.
The operation was announced during the second Italy-Serbia Business Forum, organized by the Ministry of Foreign Affairs and International Cooperation with the ICE agency, and is part of CDP's broader strategy in the Western Balkans region, where, in February 2024, the group's first non-EU office was inaugurated in Belgrade.