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On May 9, 2012, Serbia's state-run power utility [[Elektroprivreda Srbije]] (EPS) and Alta AS, a Czech engineering and energy company, signed a letter of intent to develop the plant and mine. The 500 million euro ($650 million) plant will take three to five years to complete, and will start after technical and financial details are agreed on. Financing will come from a “consortium of banks,” according to Alta. Serbia plans to become a net exporter of electricity by 2015.<ref>Misha Savic, [http://www.bloomberg.com/news/2012-05-09/serbia-alta-to-construct-500-million-euro-thermal-power-plant.html "Serbia, Alta to Construct 500 Million Euro Thermal Power Plant,"] Bloomberg, May 9, 2012.</ref>
The project is mentioned as potential in the new energy strategy of Serbia approved by the government in May 2015 and awaiting approval from the parliament (as of July 7, 2015).
==Project Details==
