The European Bank for Reconstruction and Development (EBRD) announced that it is considering providing an unsecured loan of up to 15.58 million euros to Bosnian electricity transmission system operator Elektroprijenos, to be used for network upgrades.
The statement from the bank said that 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 total cost of the project is 30.1 million euros. Elektroprijenos will contribute 14.3 million euros from its own sources. The 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.
Last year, the EBRD provided a 20 million euros loan for the modernization of its core telecommunications systems. Elektroprijenos 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.
