April 12 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday it is extending a 20 million euro ($21.7 million) loan to Bosnian state-owned power transmission system operator Elektroprenos-Elektroprijenos, known as TransCo, for the modernisation and upgrading of its core telecommunications systems.
The company will use the funding to improve the efficiency and management of its electricity substations and distribution systems, thus reduce grid electricity losses, improve system reliability, and increase readiness for integrating additional intermittent renewable energy capacity, which will lower carbon emissions, the EBRD said in a press release.
This project is part of Elektroprenos’ investment plan for 2022-2028, and will enable the company to make full use of its supervisory control and data acquisition (SCADA) system, the EBRD said.
“The project is also expected to be a step forward towards the improved integration of Western Balkans regional electricity markets, helping improve the cross-border trade and allocation of electricity transmission capacity via the optimised management of the transmission network,” Mark Bowman, EBRD Vice-President, Policy and Partnerships, said.
Elektroprenos-Elektroprijenos operates in both the Federation and the Serb Republic - the two autonomous entities that make up Bosnia and Herzegovina.
($ = 0.9200 euro)