In 2014, NIS invests more than $ 10 MLN in power generation

December 29, 2014

Among the key power generation-related projects in NIS are the production and sale of electricity. In fact, this year the company launched four small power plants that produce electricity from gas and now has a total of 7. Electricity generation reached 7.3 MW, enough to supply power to more than 1,000 households. In addition to that, NIS began to sell electricity, thus, along with Electricity Grid of Serbia (EPS), has become the only manufacturer in Serbia, which delivers electricity to the free market. Other than that, in 2014, NIS put into operation its plant for the production of compressed natural gas in the oil and gas field Palić. This energy is currently traded through the wholesale system, a compressed gas is considered to be fuel of the future because of its environmental characteristics. It has the smallest carbon footprint and as such contributes to the improvement of air quality. It is used as fuel for heating in industry and households, as well as motor vehicle fuel. NIS has continued to use geothermal potential and currently has 12 active hydrothermal wells in Vojvodina. The largest partners of NIS in the use of this resource are Kanjiža and Junaković spa resorts, and the hot water is used for heating, as well as domestic hot water, but also for recreational and therapeutic pools. NIS plans for 2015 to continue power generation projects. In cooperation with "Gazprom Energo Holding" it will start construction of Thermal Power Plant - Heating Plant (CHP) "Pančevo" that will produce electricity and heat, and the estimated value of the total investment is 170 million euros. Early next year, NIS will launch two more small power plants – at the oilfields of Sirakovo and Velebit with the total power of 4.3 MW. Also during 2015, the work will be released and plants on the gas field Ostrovo whose Early next year; the work will start two more small power plants NIS - oilfield Sirakovo Velebit and the total power of 4.3 MW. Also, during 2015 a power plant will be put on stream on the gas field Ostrovo whose power will be 4.5 MW. This will bring the total electricity production to16 MW. NIS plans in 2015 include developing trade in electricity in neighboring countries as well. The process of obtaining a license to perform these activities has been under way for NIS' subsidiaries outside Serbia, which will provide access to new markets and expand the network of partners. Also, the plan is to start early next year compressed gas retail at the Novi Sad 10 gas station.