Bosnia secures EBRD finance

22/03/2019 08:59 Electricity Market


The air quality in the Bosnian city of Zenica will improve “significantly” thanks to plans to replace a coal-fired power plant with a cleaner natural gas-fired combined heat and power plant, according to the European Bank for Reconstruction and Development (EBRD).

The bank has arranged a €46 million financing package to enable construction of the Toplana Zenica CHP plant, which will supply energy to Zenica, the fourth largest city in Bosnia and Herzegovina with a population of over 160 000, and also to its largest employer, the ArcelorMittal steel plant.


The project will be implemented by a joint venture formed by ArcelorMittal Zenica, the City of Zenica, KPA Unicon and Finnfund. It will result in “major environmental improvements as well as more cost efficient production of energy”, EBRD said in a statement.


The project will be financed with a €46 million loan package, comprising a €28 million loan for the EBRD’s own account and a loan of up to €18 million provided by Banca Intesa Sanpaolo S.p.A. The EBRD portion includes €23 million from the Bank and €5million of concessional financing from the International Cooperation and Development Fund (TaiwanICDF).


Daily (11.10.2019): EU carbon prices climbed by 2.5% on Thursday, following positive negotiations between the UK and Ireland

11/10/2019 10:44:00

Crude oil prices rebounded on Thursday, as OPEC pledges to take a supply decision for next year this December. Trade talks between U.S. and China to be held next week also lent support to prices. Hence, Brent crude rose by 1.3% to 59.10 a barrel, while WTI futures climbed by 1.8% on a daily basis to end at $53.55 a barrel.


Russia blocks coal supplies to Ukraine through Belarus

11/10/2019 09:43:00

Ukrainian MP Mykhailo Volynets, who serves as the chairman of the Independent Trade Union of Miners of Ukraine, has said that Russia has begun blocking coal exports to Ukraine via Belarus, Kosatka Media has reported.


Statkraft scores 660MW Brazil double

11/10/2019 09:38:00

Norwegian energy company Statkraft has acquired two wind farms at an advanced stage of development in Brazil with a combined capacity of about 660MW.