“EFT is at an exciting threshold. Our company is set to become the first privately owned power utility in the region, developed not through privatisation of the state power sector, but through organic growth and green-field investment”, says in an interview for CORd magazine, James Nye, one of the founders of the EFT Group.

EFT marked the sixth anniversary since taking over the Stanari mine at a traditional celebration held today.

In 2010 the EFT Group confirmed its position as the leading energy trader in south-east and central Europe. The company delivered 26 880 million megawatt hours of electricity to power utilities, system operators and industrial consumers in 22 countries. The Group achieved a EUR 1.313 billion turnover, with the company equity growing to EUR 208.273 million.

The collapse of the global financial sector in 2008 and the ensuing economic crisis continue to slow down the development of the energy sector in our region (comprising of Greece, Albania, Bulgaria, Romania, Hungary, Serbia, Montenegro, Macedonia, Bosnia and Herzegovina, Croatia and Slovenia). The decline in industrial activities over the last two years has resulted in a decline of regional energy demand, and hence a decline in the regional energy deficit.

Marija Jovanovic, a law graduate from Kragujevac will be the first Chevening –EFT scholar from Serbia. Marija is departing for the UK in October, where she will commence her postgraduate law studies at the Linacre College, Oxford University.

The works on the Ulog HPP project commenced today with the building of a system of access roads in Ulog. The value of the EFT Group investment is in the region of EUR 65 million and the project is expected to be completed by the end of 2015.

From 2010 EFT and the British Foreign and Commonwealth Office will provide funds for a new Chevening - EFT scholarship programme. The Chevening-EFT scholarship will be administered by the British Council in Serbia, as part of its existing Chevening scheme.