Masco Group from Saudi Arabia to install solar power plant in BiH

The Republic of Srpska and Masco Group have signed a memorandum of understanding on the construction of a 60 MW solar power plant on the territory of the city of Bijeljina in northeastern Bosnia and Herzegovina (BiH).

The Government of the Republic of Srpska said Prime Minister Radovan Višković signed a memorandum of understanding on the construction of a solar power plant in Bijeljina with the chief manager of Saudi Arabia–based Masco Group’s subsidiary Rade Đorđević.

The Republic of Srpska is one of the two entities making up Bosnia and Herzegovina.

The photovoltaic facility would have 60 MW, the government in Banja Luka said. The location is on land owned by the Ministry of Internal Affairs.

According to Višković, the memorandum is a first step in cooperation with  Masco Group. The government is willing to implement significantly larger projects in the future, primarily in road infrastructure, but also the use of hydrogen as a fuel for the operation of heavy machinery, he stressed.

The entity’s prime minister thanked the company for choosing the Republic of Srpska for an investment, attributing it to a favorable business environment including tax incentives.

Masco could be involved in the low-voltage grid reconstruction in the Republic of Srpska

The two sides also discussed the cooperation on projects for the construction of the Corridor 5C highway, the bypass road around Banja Luka, and the reconstruction of the low-voltage network in the Republic of Srpska.

Masco Group’s own funds enable it to offer the most favorable financial terms, the government claimed.

Đorđević said the group comprises nine companies active around the world.

The solar power project in Bijeljina is the result of successful cooperation with the Government of the Republic of Srpska, he stressed. Đorđević expressed optimism that the cooperation would be expanded.

Entity Minister of Energy and Mining Petar Đokić attended the signing of the memorandum.