The power plant named Fotonaponska Elektrana Broj 2 will have a capacity of 6.3 MWp, the ministry said in a statement on November 23.
Russia's oil and gas company Neftegazinkor is the majority shareholder in Rafinerija Ulja with a 75.7% stake, according to data on the Banja Luka Stock Exchange.
Its shares last traded on the Banja Luka bourse on November 9, closing 8.75% higher at 0.087 marka ($0.045/0.044 euro).
The Serb Republic is one of two autonomous entities that make up Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)