EFT, Energy Financing Team, based out of London is gearing up to invest €100 million on a hydroelectric project in Bosnia. The project, a hydropower plant on the Neretva River, would be located in southeastern Bosnia.
Bosnia’s Serb Republic energy ministry announced that EFT will construct and fund the 35 MW hydroelectric facility. The power plant is anticipated to generate 76 GW hours per year. The ministry estimates that construction will be finished in 2013 allowing commercial production of hydropower to begin the same year.
Recently Bosnia was deemed one of few Southeastern European countries that would be capable of producing enough renewable electricity to export to other European nations. Other Southeastern countries depend upon 30 to 50 percent of the electricity needs to be met by external sources.
In response, Bosnia has approved several new small scale energy projects aimed at raising energy production. Officials have awarded several permits, however the region is still waiting for them to be implemented.
Technor Energy ASA is another renewable industry player that has been seeking out hydropower projects along the same lines. The company is looking to construct up to seven hydropowered plants on Bosnia’s Bosna River.