KfW Approved a 65 Million Euro Loan to Elektroprivreda BiH Wind Farm “Podvelezje”

KfW Approved a 65 Million Euro Loan to Elektroprivreda BiH Wind Farm “Podvelezje”

German Development Bank – KfW approved a loan to  Elektroprivreda BiH to finance the construction of wind farm “Podvelezje”, amounting to 65 million euros within the framework of development cooperation between Germany and Bosnia-Herzegovina. Loan repayment period is 15 years, including three years of grace period. The total cost of building the wind farm “Podvelezje”

German Development Bank – KfW approved a loan to  Elektroprivreda BiH to finance the construction of wind farm “Podvelezje”, amounting to 65 million euros within the framework of development cooperation between Germany and Bosnia-Herzegovina.

Loan repayment period is 15 years, including three years of grace period.

The total cost of building the wind farm “Podvelezje” are estimated at 71.80 million euros, said the Communications Service of the Elektroprivreda BiH.

With a loan from KfW, the construction will be funded with 6.8 million of its own funds.

The loan was signed between KfW and Bosnia and Herzegovina represented by the Ministry of Finance and Treasury, and the Federation of Bosnia and Herzegovina, represented by the Federal Ministry of Finance and Elektroprivreda BiH, as the end user.

In accordance with the Law on Conclusion and Implementation of International Agreements, the Loan Agreement was approved by the Federal Parliament, the Presidency of Bosnia and Herzegovina and shall be ratified by the Parliamentary Assembly of BiH.

In order to intensify the project, the Government of the Federal Republic of Germany through KfW in the previous period Elektroprivreda BiH has approved the grant for the Study of zero state of birds and bats in the area of ​​the project site a wind farm “Podvelezje”.

Construction of the wind farm “Podvelezje” with 16 wind turbines with total power up to 48 MW and possible annual production of electricity and 100 GWh, is planned on the plateau Podvelezje to micro and small town Svetigora, at about 760 meters above sea level.

For this project, JP Elektroprivreda BiH has received a concession for 30 years.

The wind farm “Podvelezje” is recognized as one of the projects that support environmental conservation and energy efficiency and the strategic objectives of the Elektroprivreda BiH.

Renewable Energy Projects in Bosnia and Herzegovina