KfW approved 65 million euros loan to Elektroprivreda BiH for financing construction of the wind farm „Podveležje“
The German Development Bank (Kreditanstalt für Wiederaufbau - KfW) has approved to JP Elektroprivreda BiH - Sarajevo a loan to finance the construction of the wind farm „Podveležje“ in amount of 65 million euros within framework of the cooperation between Germany and Bosnia and Herzegovina. The repayment period is 15 years , including 3 years od grace period
Total expenses for building the wind farm „Podveležje „ are estimated to 71,80 million euros .To that amount of the loan, Elektroprivreda BiH will add 6,8 million euros from the own funds .
The loan was signed between bank KfW and Bosnia and Herzegovina represented by the Ministry of Finance and Treasure and the Federation BiH represented by Federation Ministry of Finance and JP Elektroprivreda BiH as the end user .
In accordance with the Law on Procedures and Conclusions and Implementation of International Agreements , the loan was approved by the Parliament of Federation of Bosnia and Herzegovina and BiH Presidency , and it will be ratified by the Parliamentary Assembly BiH.
In order to intensify the project, the Governmet of the Republic of Germany through KfW previously approved to Elektroprivreda BiH grant for preparing the zero State Study of birds and bats in area of the project site of the wind farm „ Podveležje „
The construction of wind farm „ Podveležje „ with 16 wind turbines with total power up to 48 MW and possible annual generation of electricity to 100 GWh , planned to be built on the platoe of Podveležje in micro-locations Mali Grad and Svetagora , location 760 m above sea level .For this project Elektroprivreda BiH has been granted a concession of 30 years .
The wind farm „Podveležje“ has been recognized as one of the project that will provide support to preservation of the environment and energy efficiency and is among strategic objectives of JP Elektroprivreda BiH .