BAKU, Azerbaijan, September 9. The European
Bank for Reconstruction and Development (EBRD) and Enterprise
Expansion Fund II (ENEF II), under the European Union’s Western
Balkans Investment Framework (WBIF), are supporting Meter &
Control, a Serbian company specialised in design and production of
smart energy metering systems and software development, Trend reports citing
the EBRD’s latest reports.
Out of a total funding of 9.1 million euros, 3 million euros
will be provided by ENEF II, while the EBRD’s portion of 6.1
million euros includes a concessional finance tranche provided by
the GEF special fund in an amount of 1 million euros, reflecting
the project’s strong green financials. The loan proceeds, which are
100 per cent aligned with the EBRD’s Green Economy Transition (GET)
principles, will be used to support the construction of a new
production facility and purchase of additional equipment. The
investment will help Meter & Control to increase production
capacity, automate production, improve energy and resource
efficiency as well as enhance quality controls.
Smart meters play a crucial role in modernizing energy
infrastructure and in the development of smart grids, allowing both
consumers and utility companies to monitor and manage energy use
more effectively. The project will contribute to address the needs
in Western Balkans to improve resource and energy efficiency
governance as well as set new standards for smart meter producers
across the region.
Matteo Colangeli, EBRD Regional Director for the Western
Balkans, said: “At EBRD and under ENEF II we are aiming to identify
and support companies from the Western Balkans that have high
growth potential and can become leaders in their fields. We are
therefore excited to support Meter & Control in their expansion.
This project demonstrates our commitment to strengthening the
private sector in Serbia and promoting sustainable investments that
support transition towards a low carbon economy.”
Aleksandar Skulić, CEO of Meter & Control, said: “This financing
marks a pivotal moment for Meter & Control. It strengthens our
ability to deliver innovative and reliable smart metering
solutions, while expanding our production capacity and automation.
Our mission is to actively contribute to the green transition by
enhancing energy efficiency and enabling smarter energy management.
With the support of EBRD and ENEF II, we are confident in our path
to becoming a regional leader and trusted partner in shaping the
future of sustainable energy systems.”
The ENEF II fund has the following investors: the EBRD, the
European Union (under the Western Balkans Investment Framework),
Italy’s Cassa Depositi e Prestiti, Banca Intesa and Germany’s
Kreditanstalt für Wiederaufbau. The fund is advised by the EBRD and
focuses on small and medium-sized enterprises and mid-cap companies
in the Western Balkans. It has built on the successes of its
predecessor, ENEF, which helped dozens of companies in the region
to grow and expand their businesses.
The project also benefits from technical cooperation support for
legal due diligence, which is co-financed by ENEF II technical
cooperation funds.
The EBRD is the leading institutional investor in Serbia, having
invested more than 10.2 billion euros through 390 projects to date.
The Bank’s focus in Serbia is on private-sector competitiveness,
the green economy transition and sustainable infrastructure.
