SOCAR, Serbia close to deal on gas-fired power plant near Niš PHOTO

Serbia is aiming to finalise the terms of a contract with Azerbaijan’s SOCAR in early May for the construction of a new gas-fired power plant near the southern city of Niš.

The agreement was discussed during a meeting in Belgrade between Energy Minister Dubravka Đedović-Handanović and a delegation from SOCAR, the State Oil Company of Azerbaijan, Caliber.Az reports via local media.

The ministry said negotiations on the commercial and technical terms of the project have advanced significantly in recent weeks, following an intergovernmental agreement signed in February between Serbia and Azerbaijan on the development of the facility.

According to the minister, Azerbaijani representatives held a series of technical meetings this week with officials from the ministry, as well as with executives from Elektroprivreda Srbije and Srbijagas. The aim is to reach a finalised contract structure in early May.

The planned agreement is expected to define the roles and responsibilities of all participating companies, with the creation of a joint venture envisaged to implement the project.

The proposed power plant, located near Niš, is expected to have a generation capacity of around 500 megawatts of electricity and 150 megawatts of heat. Completion is targeted for 2030.

By Aghakazim Guliyev