Bosnia's Council of Ministers has recently reached an agreement with KfW Bankengruppe, a German government-owned development bank, for the financing of the 48 MW Hrgud wind farm project in Bosnia's Serb Republic.
The loan will amount €60 million (US$66 million) and it has a repayment period of 15 years with a four-year grace period. The total project investment is estimated at US$72.7 million. Elektroprivreda Republike Srpske (ERS) will provide US$6.7 million in equity.
The 50 year concession to build and operate the new facility was awarded to the Serb Republic's power utility Elektroprivreda Republike Srpske. The project's feasibility study was carried out by COWI and it was funded by KfW.
The wind farm will comprise 16 turbines of 3 MW each and it will be built in the municipality of Berkovici, Serb Republic.The project is expected to produce 125.9 GWh per year.