The European Bank for Reconstruction and Development (EBRD) and Enterprise Expansion Fund II (ENEF II) will lend €9.1 million to Serbian smart energy metering company Meter & Control to expand production capacity and automation. ENEF II will provide €3 million while EBRD contributes €6.1 million, including €1 million in concessional financing from the Global Environment Facility, according to an EBRD news release. The financing will fund construction of a new production facility and equipment purchases to help the company scale operations.
Smart meters are becoming essential infrastructure across the Western Balkans as countries work to modernize energy systems and build smart grids. These devices let consumers and utility companies track energy use in real time, improving efficiency and reducing waste. The region needs better resource and energy governance, and local smart meter production can set new standards for manufacturers across the Balkans.
Meter & Control designs and produces smart energy metering systems along with related software. The loan proceeds align completely with EBRD’s Green Economy Transition principles and will help the company boost production capacity, automate manufacturing processes, and improve quality controls. The investment also aims to enhance energy and resource efficiency at the company’s operations.
“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,” said Matteo Colangeli, EBRD Regional Director for the Western Balkans.
Company CEO Aleksandar Skulić called the financing “a pivotal moment” that will help Meter & Control “deliver innovative and reliable smart metering solutions” while expanding capacity and automation.
ENEF II builds on its predecessor fund’s success in helping dozens of regional companies grow their businesses. The fund targets small and medium enterprises and mid-cap companies across the Western Balkans, with investors including the EU, Italy’s Cassa Depositi e Prestiti, Banca Intesa, and Germany’s Kreditanstalt für Wiederaufbau.
