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Bosnia's Serb Republic to Award 50-yr Concession to EFT for 36 Mln Euro PV Plant - Report

Bosnia's Serb Republic has decided to award a 50-year concession contract to UK-based EFT Group for construction of a 70 million marka ($39 million/36 million euro) photovoltaic (PV) plant , local media reported.

The solar plant, to be built in the southern municipality of Bileca, will have installed capacity of 60 MW and is expected to produce 84 GWh of electricity per year, news outlet Capital.ba reported on Wednesday, citing information by the Serb Republic government.

The Republic's energy ministry was authorised to sign the concession contract with London-registered EFT International Investments Holding Limited. The concessionaire will pay a one-time fee of 700,000 marka for the contract, plus a concession fee of 0.0055 marka per kilowatt hour of electricity produced.

According to earlier media reports, the PV plant will spread on an area of 133 hectares in the village of Skrobotno, close to the town of Bileca.

In Bosnia, EFT controls one of the country's largest electricity producers and exporters - the 300 MW Stanari thermal power plant, via its subsidiary EFT Rudnik i Termoelektrana Stanari.

It also has another subsidiary in Bosnia - energy trader EFT Bileca.

EFT Group, owned by Serbian businessman Vuk Hamovic, is an energy trading and investment group focused on Western, Central and Southeastern Europe.

The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.

(1 euro = 1.95583 marka)

(SeeNews, May 14, 2020)

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