EBRD and UniCredit Bank Join Forces to Fund Bosnia’s Largest Solar Project on Repurposed Land
The European Bank for Reconstruction and Development (EBRD) has arranged a €40.1 million financing package for Elektroprivreda Bosne i Hercegovine (EPBiH) to build two groundbreaking solar power plants on a former coal ash landfill site. This innovative project represents a significant step forward in Bosnia’s transition to renewable energy and showcases a creative approach to repurposing industrial land for green development. The financing includes a €25.1 million loan from the EBRD and a parallel €15 million loan from UniCredit Bank. Together, these funds will support the construction of solar plants with a combined capacity of 50MWp in the municipality of Gračanica. This will be the largest solar initiative ever undertaken by EPBiH, marking a major investment in the company’s renewable energy portfolio and underscoring Bosnia’s commitment to a sustainable future.
In addition to the funding, the EBRD is backing a 2050 technical cooperation initiative that will explore various decarbonisation scenarios for EPBiH, assessing their impact on the company’s operations, financial capital needs, planning, and stakeholder engagement. This comprehensive analysis aims to align EPBiH’s strategies with long-term sustainability goals, setting a clear path towards a carbon-neutral future. A second initiative will focus on education and workforce development in the renewable energy sector, supporting EPBiH in collaboration with local authorities to introduce new educational standards. This effort is particularly important in addressing workforce management challenges associated with the decarbonisation process, ensuring a just transition for communities affected by the shift from coal to clean energy. Technical support for these projects will be provided by the Austrian Municipal Infrastructure Fund and the Austrian High-Impact Partnership on Climate Action, reinforcing international collaboration in tackling climate change. This landmark project not only positions EPBiH at the forefront of Bosnia’s green transition but also highlights the potential of innovative solutions in the global effort to combat climate change. #RenewableEnergy #SolarPower #EBRD #Bosnia #GreenTransition #Sustainability #CleanEnergy #Decarbonisation #JustTransition #ClimateAction