EPBiH Gracanica SPP (EBRD-53198)

  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
  • Bosnia and Herzegovina
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 31, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Climate and Environment
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 41.98 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 38.5
Converted using 2023-02-01 exchange rate.
Project Cost (USD)
$ 41.98 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 14, 2023

Disclosed by Bank Feb 1, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

EBRD is considering the provision of an up-to EUR 38.5 million non-sovereign senior secured corporate A/B loan to public electricity generation utility JP Elektroprivreda Bosne i Hercegovine d.d. Sarajevo ("EPBiH" or the "Company") for the development, construction, and operation of two adjacent solar photovoltaic plants (50 MWp in total) located at Gracanica, Municipality of Bugojno, on top of a rehabilitated mine site previously used for coal exploitation (the "Project"). The total loan amount of up-to EUR 38.5 million would be co-financed by EBRD and a commercial co-lender (as either a participating B-Loan or a parallel loan).

This will be one of the first solar power projects to be developed by EPBiH as the Company shifts towards renewable energy investments as part of its decarbonisation agenda. The Project would significantly add to EPBiH's renewable energy portfolio (excluding large hydro power plants) and also create opportunities for employment in Bosnian regions heavily reliant on coal mining during construction.

The Project is expected to reduce total greenhouse gas ("GHG") emissions by 32k tons of CO2 per annum in addition to providing increased electricity generation for summer peaks and greater availability of water for climate change adaptation. This will assist the country in its low-carbon transition and commitment to the goal of the Paris Alignment.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Nadzida Hamza
Vilsonovo setaliste 15, 71000 Sarajevo, Bosnia and Herzegovina


You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request


The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html

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