Bosnia's Serb Republic awards 50-yr solar park concession to ETMax - report

Ross River Solar Farm. Image by Palisade Investment Partners Limited (palisadepartners.com.au)

SARAJEVO (Bosnia and Herzegovina), January 3 (SeeNews) - Bosnia's Serb Republic awarded a 50-year concession contract to local Solarna Elektrana Nevesinje, fully owned by Banja Luka-based electronics company ETMax, for the construction of a 104.4 million marka ($60.6 million/53.4 million euro) photovoltaic plant in the southern municipality of Nevesinje, local media reported.

The solar plant will have an installed capacity of 60 MW and will produce 84 GWh of electricity per year, Indikator reported on Friday.

Under the agreement, the construction of the plant is expected to be completed in three and a half years.

The concessionaire has paid a one-off fee of 521,808 marka and will pay a concession fee of 0.0055 marka per kWh produced once the plant is commissioned. Some 95% of the finances will be transferred to the budget of the municipality of Nevesinje, the report read.

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)

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