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12.08.2011 9:30
© EPRS
RWE Innogy, the Greek state energy company PPC, and China International Water and Electric Corporation have submitted bids to build four hydro-power plants in Bosnia, according to a Reuters report. The Bosnian Serb Republic Energy Ministry invited international firms late in June to bid for the project to construct the plants on the Upper Drina river with a combined capacity of 238 MW at an estimated cost of 500 million EUR.
According to Milan Bastinac, an assistant to the Serb Republic energy minister, the government would review the bids and then propose the best bidder to the regional parliament for the approval of the agreement before the end of the year. The successful bidder will hold a 51% stake in a joint venture to be set up with the Serb Republic power utility, Elektroprivreda RS (EPRS), which will hold 25% in the company. The remaining stake will be offered to a strategic partner to be chosen by the government, Bastinac said.
Under the tender terms, an interested company must have annual revenues of at least 5 billion EUR, capital of 3 billion EUR and consolidated profit of minimum of 400 million EUR over the past three years. It must also own energy plants with installed capacity of more than 2000 MW, of which at least a half is in hydro-power plants. Bosnia gets 40% of its electricity from hydro-power, with the rest coming from coal-fired plants, making the Balkan country one of the few in the region capable of exporting power.
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