Bosnia: KfW bank to support Energy company HZHB with 109.82 MEUR for pumping hydro power plant “Vrilo”

7. October 2013. / SEE Energy News

Energy company of Croat entity in BiH “Elektroprivreda HZHB,” presented an initiative to start the procedures for obtaining of credit funds through competent ministry for pumping HPP “Vrilo”, whose estimated value is 109.82 MEUR, to be able to start negotiations on the loan, it was said during the visit of KfW to this Mostar company.

Managing Director of KfW Bank for Europe and Central Asia Roland Siller and director of “Elektroprivreda HZ HB” Nikola Kresic and his associates held the working meeting in the “Elektroprivreda HZHB” in Mostar, and they expressed satisfaction with the implementation of current projects, and they expressed a common commitment to continue the business relationship, it was announced on the website of EPHZHB.

The reason for the visit was to get acquainted with process of the implementation of projects and of agreed credit arrangements. After a tour of engine room of HPP “Rama” KfW representatives visited the construction site of future WPP “Mesihovina” and pumping HPP “Vrilo” in Tomislavgrad municipality.

The German government subsidized through KfW 7 MEUR, allocated for the rehabilitation and revitalization of HPP “Rama”, which is ongoing, with 10 MEUR of loan assets.

Also, loan agreements of 72 million euros have been signed with this Bank three years ago (71 million loan and € 1 million grant funds, with 6 million of funds of the company) to build WPP “Mesihovina.”

Cooperation continued through joint financing of investment-technical documentation for the construction of future pumping HPP “Vrilo” where KfW Bank approved € 175,000 grant.

Source; Serbia Energy See desk/HZHB

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