January 9 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Monday it is considering a non-sovereign unsecured loan of up to 15.58 million euro ($16.7 million) to Bosnian state-owned power transmission system operator Elektroprenos-Elektroprijenos, known as TransCo, for an upgrade of its network.
The loan will be used for the installation of variable shunt reactors which will solve issues with high voltages in the 400 kV and 220 kV transmission system, the EBRD said in a project summary document.
The total cost of the project is 30.1 million euro. The company will contribute 14.3 million euro from its own resources and up to 260,000 of donor funds will be provided for technical assistance projects.
The proposed installation of a variable shunt reactors system will improve transmission system reliability, enable greater integration of renewable energy sources into the system, reduce active power loss, and increase cross-border capacity.
Elektroprenos-Elektroprijenos operates in both the Federation and the Serb Republic - the two autonomous entities that make up Bosnia and Herzegovina.
($ = 0.932573 euro)