The European Bank for Reconstruction and Development will lend 65 million euros ($88.3 million) to Macedonia to build a 70 megawatt hydro power plant, the biggest such project in the former Yugoslav republic in a decade.
The Boskov Most facility will be developed by state-owned power producer Elektrani Na Makedonija AD, or ELEM, near Debar in the west of the country, the London-based lender said in an e-mailed statement today.
“Boskov Most will help ELEM meet Macedonian power demand, which is volatile and characterised by high peaks, the EBRD said in the statement. ‘‘The Former Yugoslav Republic of Macedonia relies on electricity imports for almost a quarter of its consumption needs,’’ while more than 75 percent of domestic power output comes from an ageing, lignite-fired plant, it said.
