Tuesday, October 25, 2011

Italy buys Serbia's clean energy

ROME - Italy's Minister of Economic Development Paolo Romani and Serbia's Minister of Infrastructure Milutin Mrkonjic signed in Rome on Tuesday an energy cooperation agreement, stating that Italy will buy energy produced jointly in Serbia from renewable sources.

The agreement sets the price of EUR 155 per megawatt hour.

It belongs to a series of energy agreements between the two countries and will include the power produced by the hydroelectric stations on the Drina and Ibar that will be built jointly by Serbian and Italian companies.

The investment totals over EUR 2 billion. The power will be supplied through Montenegro and a submarine cable crossing the Adriatic Sea between Bar and Bari to Italy.

Besides Mrkonjic, the Serbian delegation includes prime minister's energy adviser Petar Skundric, State Secretary for Energy Dusan Mrakic and Elektroprivreda Srbije General Director Dragomir Markovic.

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