Experts in efficient energy, government officials, national and international investors discussed on Wednesday the potential of increased innovation in the delivery of municipal services in Serbia.

The ESCO Opportunity: Improving Energy Efficiency in Public Facilities conference, co-hosted by the European Bank for Reconstruction and Development (EBRD), Serbia’s Ministry of Mining and Energy and the Serbian Chamber of Commerce, explored the use of energy performance contracting (EnPC) and cooperation between public and private energy service companies (ESCOs.)

The EBRD has worked with local authorities and government entities to empower new approaches and allow private investors to be involved through the Regional Energy Efficiency Programme in the western Balkans.

This approach would implement energy efficient projects through experienced companies in the private sector. EnPCs make sure that the utility costs are repaid with the savings that come from utilizing ESCO.

Serbian municipalities would see a potential savings of more than $38 million with the investment of $164 million