Renewable

SARAJEVO (Bosnia and Herzegovina), May 11 (SeeNews) - Bosnian state-controlled power producer Elektroprivreda BiH [SAJ:JPESR] said it has started works on erecting the first of an overall 15 wind turbines of the future 48 MW Podvelezje wind farm near the southern town of Mostar.

The Podvelezje wind farm is expected to be commissioned in the first quarter of 2021, with an estimated annual electricity production of some 130 GWh, Elektroprivreda BiH (EPBiH) said in a statement on Friday.

The facility is being built by a consortium comprising Croatia's Siemens Gamesa Renewable Energy and Denmark's Siemens Wind Power A/S, both units of Spanish engineering company Siemens Gamesa. Bosnian companies HP Investing Mostar and Minersko Sarajevo will build the foundation structures and do some mining works.

EPBiH has signed a 30-year concession contract for the project with the government of Bosnia's Herzegovina-Neretva Canton. The project will be financed by a  loan from German development bank KfW and EPBiH's own funding.

EPBiH said earlier that the KfW loan will be in the amount of 65 million euro ($70 million), whereas EPBiH will invest 3 million euro. 

($=0.923296 euro)