PFI Issue 533 – July 16, 2014
Italian hydropower developer Adre has signed an agreement with the Serbian government to develop four run-of-the-river hydroelectric power stations near Prijepolje, in the south of the country, for a total of about 28MW.
The plants will have a capacity of 7MW and a cost of €15m each, for a total of about €60m. The company has begun preliminary discussions with the EBRD to raise debt financing for the projects. The plants would be banked on the basis of fixed feed-in tariffs linked to a PPA with the government.
ADRE is led by CEO and founder Claudio Barbano. The company has been involved in hydropower plants since 2005 and is active in projects in Italy, Albania, Serbia, Macedonia, Chile and Indonesia as a developer and investor, and as an EPC contractor, for a total of about 300MW of projects.