EPS, Schneider Electric sign letter of intent

BELGRADE - The public company Electric Power Industry of Serbia (EPS) and the company Schneider Electric signed a letter of intent concerning the prospects for introducing contemporary technical solutions into Serbia's power distribution networks.

The EPS said in a release that the letter of intent envisages cooperation in terms of considering the possibilities for introducing the smart management of power distribution networks with the application of contemporary equipment, in order to reduce losses on the network and improve the reliability of parameters.

The letter of intent was signed by Milos Stojanovic, head of the EPS directorate for strategy and investment, and Dragoljub Damjanovic, director of Schneider Electric Serbia.

The representatives of the two companies agreed to consider the possibility for financing projects aimed at introducing contemporary technical solutions into power distribution networks.

This is particularly important for the EPS at the moment of the complete opening of the power market and the connection of renewable energy sources to the distribution system, so as to increase consumption of electricity, while at the same reducing the number of power outages and their duration, the EPS said in the release.

Photo Tanjug, S. Radovanovic (illustration)