May 8 (SeeNews) – Japan International Cooperation Agency (JICA) has agreed to help finance the construction of the 628 MW Bistrica reversible hydro power plant (RHPP) in western Serbia, with preparatory works on the project set to start in 2025, Serbian energy minister Dubravka Djedovic Handanovic said.

Japan’s decision to participate in the financing follows a preliminary analysis of the project’s technical documentation, Djedovic Handanovic said in a statement on Tuesday after a meeting with representatives of JICA’s Balkan office.

Financial details were not disclosed.

Earlier this year, Djedovic Handanovic said that Serbia aims to build the Bistrica RHPP, valued at some 1 billion euro ($1.08 billion), by 2031. The power plant in western Serbia will be the largest new energy facility in the country and will be of major importance for balancing and storing electricity output.

In March, Serbian state-owned power utility EPS said it is seeking an investment-technical designer for the project for the construction of Bistrica RHPP.

EPS has said earlier that Bistrica RHPP will comprise four units, with planned annual generation of some 1,100 GWh. The multipurpose facility will benefit from the operations of a pump-turbine unit. Its flexibility and storage capacity will significantly contribute to the security of power supply and decarbonisation of Serbia, and the region.

Bistrica RHPP will be located on the Uvac/Lim river basins in western Serbia.

($ = 0.929 euro)