PEPO Energy, a joint venture between Switzerland-based energy company MET Group and Arhar Teh, a local firm in the north-eastern Serbian town of Novo Milosevo, has constructed and commenced operations of a green energy power plant which utilises residue agricultural biomass for biogas production, which in turn generates electricity and heat. The plant has a design capacity of 1.2 MW.
MET Group entered the PEPO project in May 2020, acquiring 51% of the equity and providing the necessary project finance.
Zorana Mihajlović, Deputy Prime Minister and Minister of Mining and Energy emphasized the importance of building a new biogas power plant in Serbia, in addition to the 28 existing ones. “Currently, we are building another 73 biogas power plants in Serbia, and with about 100 MW of capacity being installed in a year or two, Serbia will produce more electricity from biogas than Croatia, Slovenia and Montenegro together. This project demonstrates the orientation of the Serbian government towards green energy, and every investor who invests in renewable energy shows that they believe in our energy policy,” said Zorana Mihajlovic. She underlined that PEPO Energy is an investment worth five million euros, which will support over 30 jobs for the local community.
Benjamin Lakatos, CEO of MET Group commented: “The PEPO power plant is yet another milestone in our renewables strategy, and demonstrates our strong commitment to a green and sustainable future. It also further underpins our commitment to Serbia, where MET has been doing business since 2009. We would like to continue to expand our renewable and conventional activities here, further investing in the Serbian economy.”
MET Group is an integrated European energy company, headquartered in Switzerland, with activities in natural gas and power markets. MET is present in 14 countries through subsidiaries, 25 national gas markets and 22 international trading hubs. In 2019, MET Group’s consolidated sales revenue amounted to EUR 11.7 billion, the volume of natural gas traded was 50 BCM.