EBRD lends Macedonia EUR 65mn for building Boskov Most hydropower plant.

By bne IntelliNews November 11, 2011
The EBRD announced that it is extending a EUR 65mn sovereign loan for the construction of the Boskov Most hydropower plant. The financing will be extended to Macedonia's state-owned electricity generation utility ELEM. The new hydropower plant will have a generation capacity of 70 MW and will be located near the town of Debar in the western part of the country. The total cost of the Boskov Most project is EUR 107mn, with the remaining EUR 42mn to be provided by ELEM. The construction of the hydropower plant will start in H2 2012, and electricity generation is expected to begin in 2016. The EBRD comments, "Boskov Most will help ELEM meet Macedonian power demand, which is volatile and characterised by high peaks. FYR Macedonia relies on electricity imports for almost a quarter of its consumption needs." The EBRD Shareholder Special Fund is providing EUR 340,000 in grant financing for technical and environmental due diligence.

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