July 6 (SeeNews) - The government of Bosnia's Herzegovina-Neretva Canton has announced the signing of a concession contract with local renewable energy company Energy 3 for the construction of a wind park near the city of Mostar.
The cantonal government is granting Energy 3 a 30-year concession for the construction of 8 turbines within the Plocno wind park, which is planned to have 16 turbines in total with a combined capacity of 48 megawatts (MW), according to a notice posted on the website of the cantonal government.
The deadline for the construction of the 8 turbines is three years.
Last September, IFC, a member of the World Bank Group, said it is helping Energy 3 develop two wind farms in a bid to back the country's efforts to diversify its energy sources and boost the generation of renewable energy. IFC is advising Energy 3 on the development of the Plocno and Podvelezje wind farms, it said, adding that main services under the agreement include an energy market risk assessment, and advice on electricity selling options and price forecasts.
Energy 3 is majority owned by Nordic Power Partners, a Danish wind and solar development company that is a joint venture of Denmark's largest wind and solar developer European Energy A/S and the Danish Climate Investment Fund, owned and managed by the Investment Fund for Developing Countries as well as a number of Danish pension funds.