EBRD Mulls 65 Mln Euro Loan to Macedonia’s ELEM for HPP Boskov Most
SKOPJE (Macedonia), July 7 (SeeNews) – The European Bank for Reconstruction and Development said on Thursday it is considering providing a loan of up to 65 million euro ($92.6 million) to Macedonia's power producer ELEM for the construction of a hydro power plant Boskov Most.
The new sovereign-guaranteed loan, along with 42 million euro equity investment by ELEM, would fund the construction of the project, EBRD said in a statement.
A 700-megawatts (MW) hydro power plant Boskov Most will be located near the western city of Debar.
“The project will support the development of renewable energy by providing new clean capacity in a country and a region with serious capacity shortages and high levels of carbon intensity,” it said.
The loan will be reviewed by EBRD's board on November 8.