Bosnia and Herzegovina, “Hidroelektrane na Drini” has cancelled a tender for the provision of a loan

, SEE Energy News

“Hidroelektrane na Drini”, a subsidiary of state- owned power utility ERS which operates hydropower plant Visegrad, said that it has cancelled a tender for the provision of a loan worth some 5 million euros.

The reason for the tender’s cancellation is that it failed to attract any offers. The company launched the tender on 20 October, looking for a loan with the maturity of one year, with fixed interest rate of 4.9 % and is prepared to pay up to 260,000 euros for the loan’s servicing fees. It said that the loan proceeds will be used to maintain company’s liquidity in the coming period.

In September, parent company ERS obtained a loan worth 5 million euros for the purchase of necessary fuel for the winter season, while coalmine and thermal power plant (RiTE) Gacko recently launched a call for 1.3 million euros loan that will be used for the purchase of energy supplies.