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Bosnia and Herzegovina Renewable Energy Industry Analysis
Sure, here's an in-depth analysis of the renewable energy projects industry's current scenario, major drivers, and industry outlook in Bosnia and Herzegovina.
Bosnia and Herzegovina (BiH) is a country located in Southeastern Europe, known for its abundant natural resources, including coal, hydropower, and solar energy. The country has a rich history of electricity production, primarily relying on hydropower and thermal power plants, but it is now gradually shifting towards renewable energy sources.
The current scenario of the renewable energy projects industry in Bosnia and Herzegovina is still in its early stages. The country has set a target to increase its share of renewable energy to 43% of total electricity production by 2020, as part of its obligation to comply with the EU Energy Community Treaty. However, the country is yet to meet this target, and renewable energy still accounts for a relatively small share of electricity generation.
The major drivers of the renewable energy projects industry in Bosnia and Herzegovina include the country's commitment to reducing greenhouse gas emissions and achieving energy independence, along with the availability of abundant renewable energy resources. The country has significant potential for renewable energy generation from wind, solar, geothermal, and biomass sources.
Wind energy is one of the most promising sectors for renewable energy development in Bosnia and Herzegovina. The country has a wind power potential of around 2,500 MW, primarily located in the central and southern regions. Currently, there are several wind energy projects under development, including the Podvelezje Wind Farm, which is set to become the largest wind farm in the country with a total installed capacity of 48 MW.
Solar energy is also gaining momentum in Bosnia and Herzegovina. The country has a high solar irradiation potential, particularly in the Herzegovina region. The construction of several solar power plants is currently underway, including the Banovici Solar Power Plant, which has a planned installed capacity of 58 MW.
In terms of hydropower, Bosnia and Herzegovina has a long-standing history of hydropower generation, and it still remains the dominant source of renewable energy in the country. The country has a total hydropower potential of around 10,000 GWh per year, with several large hydropower plants already in operation.
The outlook for the renewable energy projects industry in Bosnia and Herzegovina is positive, with a growing interest from both domestic and international investors. The country has implemented several measures to promote renewable energy development, including feed-in tariffs, tax incentives, and public-private partnerships.
In conclusion, while the renewable energy projects industry in Bosnia and Herzegovina is still in its early stages, the country has significant potential for renewable energy generation. The major drivers of the industry include the country's commitment to reducing greenhouse gas emissions and achieving energy independence, along with the availability of abundant renewable energy resources. With continued support and investment, the industry is expected to grow and play a vital role in the country's energy transition.
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