SARAJEVO, April 10 (Reuters) - The European Investment Bank (EIB) will lend Bosnia’s top power utility EPBiH 37.5 million euros ($51.8 million) to help it build a 20 megawatt (MW) hydropower plant on the Bosna river, EPBiH said on Thursday.
The total cost of the Vranduk hydro power plant in central Bosnia is pegged at 75 million euros ($104 million). The European Bank for Reconstruction and Development (EBRD) had earlier extended a 26 million euro loan for the project.
EPBiH, which will finance the remainder of the cost, said last week it had extended until April 29 a deadline for firms looking to pre-qualify for a contract to build the plant.
Bosnia produces 40 percent of its electricity from hydropower and the rest from coal-fired plants, making the Balkan country one of only a few in the region capable of exporting power.
EPBiH, the largest of Bosnia’s three power utilities, operates two coal-fired plants and three hydropower plants with a combined capacity of 1,165 MW and 517 MW, respectively. ($1 = 0.7234 Euros) (Reporting by Maja Zuvela, Editing by Erica Billingham)