June 23, 2024
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BiH: European Union and EIB Global to support construction of Vlasic wind park

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EIB Global, the financial arm of the European Investment Bank (EIB) for activities outside the European Union, has signed €36 million in favourable loans for the construction of a 50 MW wind farm on the high plateau of Vlašić mountain, located about 15 km north-west of the town of Travnik. The loan comes in addition to the €21 million in grants allocated by the European Union in December 2023 through the Western Balkans Investment Fund (WBIF).

Aligned with national strategies for renewable energy, the plant includes up to 18 wind turbines and their connection to the national energy grid and is expected to produce 115 GWh/year of electricity. This production is equivalent to the energy demand of 20,000 households and will displace 140,000 tonnes of CO2 a year. Beyond contributing to the country’s renewable energy goals and reducing reliance on coal, this project will support the transition to a low-carbon economy and foster sustainable development.

“I am glad that the EU has been able to provide €21 million in grants for the construction of the wind farm on Vlašić mountain. Together with our partners, we want to help Bosnia and Herzegovina take advantage of its favourable climate and geography and start delivering on its path towards a low-carbon economy, reducing coal dependence and fostering sustainable development. The European Union is ready to provide financial resources and expertise to Bosnia and Herzegovina for the energy transition through the Green Agenda for the Western Balkans, the Economic and Investment Plan and the new Growth Plan, and help the energy transition. The energy transition is key to improving the quality of life in Bosnia and Herzegovina and on its path to the EU,” said Head of EU Delegation and EU Special Representative in BiHAmbassador Johann Sattler.

The Vlašić Wind Power Plant project — estimated at over €91 million — has been identified as falling under Flagship 4 — Renewable Energy in the EU Economic and Investment Plan. The European Union allocated in total €21 million in grants for its construction.  Bosnia and Herzegovina is contributing €16.7 million, while the KfW development bank is offering a €16.5 million loan.

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