Hungarian company to build biggest solar power plant in Bosnia-Herzegovina

March 29. 2023. – 03:56 PM


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The State Competition Authority of Bosnia and Herzegovina has approved the sale of the majority stake in the Trebinje 1 solar power plant in the Serbian entitiy of the state (Republika Srpska), which is due to be completed by 2024. The decision was made at the end of last year, but as it was only announced on Tuesday, thus making it certain that

a Hungarian energy company, Lugos Renewables will become the majority owner of one of the largest solar power plants in the region.

Roland Lugos, a prominent businessman in the Hungarian solar cell market, is also involved in the construction of the 74 megawatt plant, a contract having been signed about this with the Bosnian Serb power utility Elektroprivreda Republike Srpske in December 2022. The project, located near Trebinje, a town of 30,000 near the Adriatic Sea in the south-eastern tip of Bosnia, is worth more than €50 million.

According to the company's January announcement, the company set up to develop the solar power plant is 70% owned by Lugos Renewables and 30% by the Bosnian Serb entitiy's electricity company, but the competition authority's decision no longer includes the two parties' ownership stakes. The company's CEO, István Halász, previously said that some details of the signed contract were confidential.

Hungarian Foreign Affairs and Foreign Trade Minister Péter Szijjártó visited the Republika Srpska last week, where he also met with its separatist leader Milorad Dodik. As we have reported in detail, Hungary is providing substantial financial support to the anti-Western Serb leader, who is interested in the partition of the Federation of Bosnia and Herzegovina established after the South Slav war. Viktor Orbán has a very good relationship with Dodik, who recently honored Russian President Vladimir Putin with an award, and is trying to help the politician stay in power by providing support and a very favourable loan.


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