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EBRD approves loan for building three power plants in Western Macedonia.

The European Bank for Reconstruction and Development (EBRD) approved a loan of 3 million euros to the Macedonian company Hydro Energy Group (HEG) for building three small hydroelectric power stations in the western part of Macedonia. The power stations will have total capacity of 3.73 MW, put out some 10 GWh of electricity annually and connect to the Macedonian distribution network. HEG will also conclude priority purchase agreements with MEPSO.

This is the third EBRD loan approved to the private sector in Macedonia for investments in the energy facilities provided through the direct credit line for investments in sustainable sources of energy in the Western Balkans. The EBRD funding is backed by a direct agreement signed with the Ministry of Economy. The EBRD has so far invested some 550 million euros in over 60 projects.
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Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Geographic Code:4EXMA
Date:May 18, 2011
Words:136
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