December 7 (SeeNews) - Bosnian power utility Elektroprivreda BiH (EPBiH) said on Monday it plans to produce a total of 21,636 GWh of electricity in the period 2016-2018, with 20% of the total planned amount seen coming from hydropower sources.
The remaining 80% of the electricity planned to be produced in the three-year period is set to come from thermal power plants and wind energy sources such as the Podvelezje wind farm which is seen coming on stream in July 2017, EPBiH said in its 2016-2018 business plan which is set to be discussed at a shareholders' assembly on December 29.
Podvelezje is expected to produce some 120 GWh of electricity per year.
In terms of the power utility's financial plans, the company forecasts its net profit at 1.2 million marka ($665,600/613,600 euro) in 2015, at 657,000 marka in 2016, at 2.8 million marka in 2017 and at 5.8 million marka in 2018.
EPBiH added its priority projects for the upcoming period are the construction of Unit 7 at the Tuzla-based power plant, Unit 8 at TPP Kakanj and several hydropower plants.
The company also noted it will direct 579 million marka of its own funds towards investments over the three-year period, while 1.6 billion marka is planned to come from loans and external financial sources. The total sum of planned investments over the upcoming period is seen at 2.4 billion marka.
EPBiH operates in the Federation, one of the two autonomous entities making up Bosnia and Herzegovina. The other one is the Serb Republic. It is the biggest of Bosnia’s three power utilities.
In January, EPBiH said it plans to raise electricity output by 3.3% to 7,651 GWh in 2015.
(1 euro=1.95583 Bosnian marka)