A Reuters report has claimed European energy trading and investment company Energy Financing Team (EFT) has been adjudged the winner of 60 MW solar power plant in Bosnia. EFT shared this information with Reuters.
Identified by other media outlets as the Bileca Solar Power Plant, the project is scheduled to enter commercial operations in 2023 with potential to generate 84 GWh annually, all of which will be sold on the open market.
With this auction win, EFT will build and operate the facility for 50 years it said, and expects to sign a formal contract with the Energy Ministry of Bosnia's autonomous Serb Republic in mid-July 2020. The project is estimated to cost BAM 85 million ($47.7 million).
The 60 MW project is part of the Serb Republic's 1 GW renewable energy target to be achieved by 2029 and reduce coal power consumption that currently makes up more than 60% of its power generation capacity.
EFT already operates a 300 MW coal power plant in the country and is constructing the 35 MW Ulog Hydro Power Plant. The 60 MW PV project will help it dig its heels deeper in the region.