Chairman Tegeltija at “Western Balkans Renewable Energy Investment Possibilities” Regional Conference in Belgrade

Chairman of the Council of Ministers of BIH Zoran Tegeltija took part at Belgrade regional conference “Western Balkans Renewable Energy Sources Investment Possibilities”. The conference was organised by Embassies of the Kingdom of Norway in Sarajevo and Belgrade, in cooperation with Nordic Business Alliance, Norway-BIH Business Association, and Norwegian partners for cooperation in the area of energy, for the aim at presenting Norwegian expertise and investors to the Western Balkan countries in the area of renewable sources of energy. 

The plenary session discussed the regional energy perspective and Norwegian investments to the Western Balkan energy sector, opportunities and possibilities for financing of renewable sources of energy, as well as on development and experiences of the relevant Norwegian experience.

In his address, Chairman Tegeltija said that there is a strong interest in Bosnia and Herzegovina for strengthening of cooperation with energy sector operating companies from the Kingdom of Norway, coupled with an openness for regional cooperation. He stressed that Bosnia and Herzegovina has untapped energy potentials, while Norway has knowledge, new technologies and financial possibilities.

Chairman Tegeltija said that BIH disposes of a considerable energy capacities, however the majority of capacities require increased maintenance efforts and additional investments in modernisation. He underlined that it is especially true for coal plants, which produced 59.2% net electric power in Bosnia and Herzegovina 2021. He added that there is a real need - for the sake of energy system stability, especially now in times of the world energy crisis - for reconstruction of several blocks in coal plants  in order to prolong their operation time and decrease pollution.

Chairman Tegeltija added that both Entities, Republika Srpska and the Federation of BUH , are in the process of adoption of a set of laws directed to energy transition towards clean energy, which proves a clear determination of Bosnia and Herzegovina for a shift from fossil fuels to renewable sources of energy. He stressed that Bosnia and Herzegovina invests maximum efforts to open its energy sector to private investments, particularity in renewable sources of energy, like solar plants. He said that windmills and solar plants last year only produced 2.6% of net electric energy in BIH, so there is a significant space for additional investments in this area.

Chairman Tegeltija said that energy companies in BIH plan significant investments to generation capacities within key strategic aims: supply security, cost affordability and ecological sustainability. He welcomed interest of Norwegian companies and investors for investments to the energy sector in BIH, and encouraged cooperation with energy companies in BIH. (end)