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  .