EBRD supports energy innovation in Serbia - €9 million in financing to develop smart metering system
The European Bank for Reconstruction and Development (EBRD) and the Enterprise Expansion Fund II (ENEF II) have decided to support the Serbian company Meter & Control, specialized in the production of intelligent energy metering systems and software development.
The total financing amounts to €9.1 million, of which €3 million will come from ENEF II, supported by the EU Investment Framework for the Western Balkans, and €6.1 million from the EBRD. This amount also includes a special support of €1 million from a climate fund, reflecting the green character of the project. These funds will be used to build a new production facility and purchase the necessary equipment to enable the increase in capacity.
The investment will help the company automate production processes, increase efficiency in energy and resource use, and improve quality control standards. Furthermore, it will contribute to the development of smart energy networks, enabling consumers and operators to better manage consumption.
The project addresses the region's needs for greater efficiency in energy and resource use, and is expected to set new standards for smart meter manufacturers in the Western Balkans. The funds also help boost private sector development in Serbia and strengthen the transition to a more sustainable and low-carbon economy.
ENEF II, which is the successor to a previous fund with similar success, is supported by the EBRD, the European Union, Italy, Germany and other partners. It focuses on small and medium-sized enterprises, providing them with capital and assistance to increase capacity and improve market competitiveness.
The EBRD is the leading institutional investor in Serbia, with over 10 billion euros invested to date in projects that promote economic development, sustainability and competitiveness in the region.
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