EPS and SOCAR are preparing a shareholder agreement for the gas power plant project in Niš

The State Oil Company of Azerbaijan (SOCAR) and Serbia's "Elektroprivreda Srbije" (EPS) plan to sign a shareholders' agreement in the coming weeks to establish a joint venture for the implementation of a gas-fired power plant construction project in the city of Niš.

As reported by BAKU.WS with reference to Report, this was stated by Serbia's Minister of Mining and Energy Dubravka Đedović-Handanović at a meeting with the Mayor of Niš Dragoslav Pavlović.

During the meeting, the parties discussed the progress of the gas-fired power plant construction project in the city.

Đedović-Handanović emphasized that the gas-fired power plant in Niš is a strategic project being implemented within the framework of cooperation between Serbia and Azerbaijan.

The minister recalled that the agreement on the project's implementation was signed in February of this year in Belgrade in the presence of the presidents of Serbia and Azerbaijan.

"The preparation and coordination of planning documentation has begun. The territorial plan of the city of Niš has already been adopted, which will serve as the basis for further work on the project," noted Đedović-Handanović.

She reported that during the meeting, the implementation schedule and key milestones through the end of 2030 were discussed, when the construction of the power plant is expected to be completed.

The minister emphasized that the new facility will enhance the reliability of electricity supply and strengthen Serbia's energy stability, with the additional benefit of improving heat supply for the residents of Niš.

Đedović-Handanović stressed the need to coordinate the actions of all project participants in preparation for the establishment of a joint venture between the Serbian electric power company EPS and SOCAR.

"In parallel, the shareholders' agreement for the future joint company between 'Elektroprivreda Srbije' and SOCAR is being finalized, and its signing is expected in the coming weeks," added Đedović-Handanović.

Dragoslav Pavlović noted that the leadership of Niš and all local institutions are doing everything possible to prepare the project as quickly as possible and complete all procedures necessary for the earliest start of construction.

It should be recalled that in early June, EPS and SOCAR signed the key terms of cooperation in Baku for the development, construction, and management of a gas-fired power plant in Niš, defining the key principles for establishing a joint company and the main commercial parameters of the project.