Renewables

Joint venture of ERS, Lugos Renewables for Trebinje 1 solar power plant

Lugos Renewables, ERS to jointly install Trebinje 1 solar power plant

Photo: Lugos Renewables

Published

March 15, 2022

Comments

0

Share

Published:

March 15, 2022

Comments:

0

Share

Hungarian renewable energy company Lugos Renewables will own 70 percent of the Trebinje 1 solar power plant. The remainder will be controlled by power utility Elektroprivreda Republike Srpske (ERS), said Luka Petrović, general manager of ERS.

The Trebinje 1 project has a planned installed capacity of 73 megawatts (MW), for which Elektroprivreda Republike Srpske got a concession in October 2020 from the Government of the Republic of Srpska. In September of last year, ERS said it is negotiating with Lugos Renewables to invest in the facility, while the European Bank offered to finance for Reconstruction and Development (EBRD).

ERS will offtake electricity from the solar power plant at EUR 50 per MWh for a period of 25 years

Luka Petrović, general manager of ERS, now said his company would purchase electricity from solar power plant Trebinje 1 at EUR 50 per MWh for a period of 25 years. Petrović pointed out the prices on power exchanges are currently reaching as much as EUR 400 and added that the expected average price is EUR 150.

The expected annual production of the solar power plant is around 130 GWh, and ERS expects a total income of EUR 325 million from the sale of the electricity while purchasing it would cost EUR 162 million, Petrović said.

Petrović: This is the best model in the Balkans

ERS could also get 30 percent of the profit from the Trebinje 1 facility. This is the best model in the Balkans, Petrović said and added that anyone who has a better one should come forward.

ERS also plans various projects, including Gornja Drina, Gornji Horizonti, Hrgud wind farm, Sutorina hydropower plant, and a solar power plant in Ljubinje.

Of note, solar is in a significant expansion in BiH. Plans for the construction of four large photovoltaic plants were announced just recently.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Germany spearheads wind power development Europe 2023

Germany spearheads wind power development in Europe in 2023

28 February 2024 - Germany is spearheading wind power expansion in Europe, while Greece and Turkey have the strongest performances in the Balkans

Albania production battery energy storage systems

Project launched in Albania for production of battery energy storage systems

27 February 2024 - Vega Solar agreed with an unnamed Indian company to build the first lithium ion battery factory in Albania

Kosovo power utility KEK replaces acting CEO

Kosovo* power utility KEK replaces acting CEO

27 February 2024 - KEK) appointed Bekir Gërguri as acting chief executive officer and Ramadan Budakova as his deputy, also in an acting capacity

Greece, Bulgaria offer best returns on battery investments in Europe

Greece, Bulgaria offer best returns on battery investments in Europe

27 February 2024 - Investments in battery storage offer the opportunity for profitable energy arbitrage, according to Rystad Energy