BANJA LUKA (Bosnia and Herzegovina), April 16 (SeeNews) - Bosnia's Serb Republic has signed a 50-year concession contract with local company Vjetroelektrana Grebak to build and operate a 49.5 megawatt MW wind farm in Nevesinje, the entity's energy ministry said.
The Serb Republic government awarded the concession to Grebak in January, with construction of the wind farm expected to be completed in the following three years, the entity's energy ministry said in a press release on Monday.
The planned electricity output of the Grebak wind farm is 130 gigawatt hours per year. The Serb Republic government will provide no subsidies to the concessionaire.
Following the construction of the wind farm, the concessionaire shall pay a concession fee of 0.0055 marka per kilowatt hour to the Serb Republic government, with 95% of the payments to be then transferred to the budget of the Nevesinje municipality.
The Serb Republic is one of the two autonomous entities that make up Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.95583 marka)