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.