SARAJEVO, BOSNIA AND HERZEGOVINA, November 17, 2022/EINPresswire / — As the world seeks a faster path to achieving climate goals, nations seek the economic and environmental benefits of decarbonizing — and companies and other large users of energy seek to appeal to investors by reducing emissions and improving their sustainable performance. These were among the points made at a gathering co-hosted by British Ambassador Julian Reilly and Edison Energy, a California-based consultancy that recently acquired Alfa Energy Ltd, which has operations here and in London.
With the private sector increasingly seeking sustainable and resilient energy sourcing, Alfa Energy and Edison Energy — now one global company — will employ their expanded capabilities and geographic reach to help large users of energy decarbonize, attracting further investment.
"Alfa Energy has had a significant presence for many years in the UK and Europe, including Bosnia and Herzegovina, and Edison Energy looks forward to expanding that presence," said Oded J. Rhone, Edison Energy CEO.
"Our company will increasingly help companies meet their energy and sustainability commitments, making them even more appealing to investors. This will mean more clean energy investments, the creation of local jobs and increased economic competitiveness."
The Sarajevo event was held as United Nations Climate Change Conference — COP27 — neared its conclusion in Sharm El-Sheikh, Egypt, with a common theme being the need for greater scale and speed of deployment to achieve climate goals. In attendance in Sarajevo were representatives of the European Bank for Reconstruction and Development, the World Bank, the IFC, Deloitte, the Ministry of Foreign Trade and Economic Relations of Bosnia and current and potential clients.
"Alfa Energy has called Bosnia and Herzegovina its home for many years," said Damir Ahmovic, founder and CEO of Alfa Energy and now president of Edison Energy, Europe. "Our team in Sarajevo numbers more than 150 strong, and we are already adding staff as we expand our work helping commercial and industrial clients decarbonize. Our partnership with Edison Energy is a critical step in furthering our mission of enabling the clean energy transition while creating positive local impact. For us, this means creating jobs and bringing increased energy security."
Recent policies on both sides of the Atlantic are paving the way for more renewables. Bosnia and Herzegovina are developing a National Energy Climate Plan in line with European regulations to address energy efficiency, renewables, greenhouse gas emission reductions, generation interconnections and research and innovation. The plan will open the door for Bosnia and Herzegovina to accelerate decarbonization.
Edison Energy has seen a rapid response from European companies seeking to meet bold sustainability commitments. As an example, it has been working with Adriatic Metals, a UK company with a presence in Bosnia and Herzegovina, on a net-zero strategy, life cycle gap analysis, a Science-Based Target initiative (SBTi) submission and CDP certification support, among other sustainability initiatives.
Renewable energy uniquely offers speed of deployment, with the time required to build such plants measured in months versus years for now-outmoded fossil fuel infrastructure.
The annual gathering of global leaders to reaffirm their commitment to climate action was mirrored at the British ambassador''s residence in Sarajevo today as speakers from Bosnia and Herzegovina, the UK and the U.S. committed to act together.
"Edison Energy and Alfa Energy have gathered some of the best minds in the clean energy industry just in time to help companies on both sides of the Atlantic succeed in the transition," Ahmovic said.
Edison Energy LLC (DBA in Europe as Altenex Energy and Alfa Energy) is a global energy and sustainability advisory firm that helps large corporate, industrial and institutional clients better navigate the choices, opportunities and risks that are emerging from the transition to a net-zero future. For more information, visit https://
We believe that smart energy solutions start with a dialogue. Contact us today and let''s start the conversation about how Edison Energy can evaluate and mitigate risks while aligning energy investments with your company''s strategic goals.
The report states that last year, regardless of the very unfavorable hydrological conditions and, in particular, the aggravating circumstances due to the coronavirus pandemic, adequate availability of power plants was achieved and end customers were properly supplied with electricity.
In 2020, power utility EPBiH produced a total of 6,237,916.61 MWh of electricity, which is 8 % less than planned by the energy balance, but it is 3.38 % higher compared to 2109. Total electricity consumption last year was lower than planned by 0.6 % and 0.3 % higher than in 2019. In 2020, 4,824.5 GWh of electricity was delivered to end customers, which is 0.4 % more than in 2019 and is at the level of last year’s planned consumption.
In 2020, 6.3 million euros were invested in coalmines operated by EPBiH, and when that is added to the previously invested 104.2 million euros, the amount of total investments comes to 110.5 million euros. In 2020, EPBiH recorded profit before tax of 5.35 million euros
Power utility EP HZHB operates seven hydropower plants with a capacity of 852 MW and one wind farm (Mesihovina) with a capacity of 50.6 MW. The company supplies electricity to 197,672 customers. Production in hydro and wind power plants in 2020 amounted to 1,681.43 GWh, which is 18.4 % less than planned. Only pump-storage HPP Capljina and Mesihovina wind farm produced more electricity than planned, 17.1 % and by 1.7 %, respectively.
Electricity sales on the free market in 2020 amounted to 559.35 GWh, which is 13.2 % more than planned. In 2020, EP HZHB recorded total revenue in the amount of 166.5 million euros, which is 2.8 % less than planned.
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