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.

Related Articles

Macedonias 2013 tobacco crop expected to exceed 30,000 tonnes.

Macedonias tobacco crop is expected to increase by 20% to over 30,000 tonnes in 2013, Utrinski vesnik daily reported quoting Danco Mileski, president of the countrys tobacco association. The ... more

Macedonia cancels tender for gas distribution network feasibility study.

The transport ministry has cancelled the tender for preparing a feasibility study for developing the countrys natural gas distribution network, build.mk portal reported. Reportedly, two bids were ... more

Komercijalna Banka wins Global Finance award Best Bank in Macedonia for 2013.

Large-sized commercial bank Komercijalna Banka announced that it has won the award Best Bank in Macedonia for 2013 by the magazine Global Finance. The Macedonian bank wins the award for a 10th ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335