Renewables

REIC launches first-ever renewables crowdfunding campaign in BiH

Photo: REIC

Published

November 1, 2018

Comments

comments icon

0

Share

Published:

November 1, 2018

Comments:

comments icon

0

Share

REIC, a Sarajevo-based NGO, has invited citizens to donate money for buying and installing solar hot water panels at mental health asylum Drin in Fojnica, launching the first-ever renewables crowdfunding campaign in Bosnia and Herzegovina.

The goal of the crowdfunding campaign is to raise at least BAM 20,000, or USD 15,000, for solar panels that could help cut the costs of water heating at the institution by up to 60%, according to the invitation of donations. Drin, which has about 500 inmates and 250 staff, needs hot water 365/24/7, and it currently spends some BAM 250,000 (EUR 127,823) a year on electricity bills.

REIC (the Regional Education and Information Center for Sustainable Development in South-East Europe) said it wants to demonstrate that it is possible to finance citizen energy projects in BiH, and to pave the way for more such initiatives in the future.

While renewable energy cooperatives are a well-established concept in western EU countries, the Balkans is only just making baby steps in this direction. In Germany, for example, about 50% of installed renewable energy capacity is in the hands of citizens, energy cooperatives, and farmers.

Croatia’s first crowdfunded solar system was put into operation in September

In May 2018, Green Energy Cooperative, or ZEZ (Zelena energetska zadruga), launched Croatia’s first crowdinvesting initiative for renewable energy, in what helped finance and install a 30 kW photovoltaic (PV) system on the rooftop of the Development Center and Technology Park’s administrative building in the city of Križevci.

The PV system was put into operation in September, after ZEZ’s initiative had raised the necessary EUR 31,000 to finance equipment procurement and installation, with 53 citizens providing micro-loans to the cooperative. ZEZ will pay back the loans to the investors with 4.5% interest annually over a period of 10 years, from expected savings on electricity bills, according to earlier reports.

The pilot project in Croatia heralded the beginning of true energy transition in the region, according to an op-ed published by Balkan Green Energy News in August. The initiative attracted considerable attention in the country, and the crowdinvesting campaign received an additional boost through the local and national media.

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

IHA Turkey 2024 hydropower additions highest Europe again

IHA: Turkey’s 2024 hydropower additions highest in Europe again

03 July 2025 - The world's hydroelectric capacity increased 1.7% last year to 1.44 TW, the International Hydropower Association said in its annual report

boksic solar power plant battery

Project underway for 99 MW Bokšić solar plant with battery storage

03 July 2025 - The Bokšić solar power plant project includes a battery energy storage system, BESS, with a capacity of 70.8 MWh.

YEO Defic Globe projects 219 MW Romania rebranding

YEO’s Defic Globe buys projects for 219 MW in Romania amid rebranding

03 July 2025 - Defic Globe, controlled by YEO, acquired 15 project firms developing plans for power plants and battery storage in Romania

HELLENiQ Energy buys ABO Energy Hellas 1 5 GW renewables

HELLENiQ Energy buys ABO Energy Hellas, adding 1.5 GW in renewables projects

02 July 2025 - Amid a consolidation in the renewables sector in Greece, HELLENiQ Energysaid it completed the acquisition of ABO Energy Hellas