The Shareholders’ Assembly of “Hidroelektrane na Trebisnjici” (HET), a subsidiary of power utility ERS, approved the decision of the Supervisory Board to recapitalize “HE Dabar” by converting receivables into a monetary contribution of the founder in the amount of 21.5 million euros.
The company “HE Dabar” was established with the purpose of construction and operating hydropower plant Dabar.
In February, HET shareholders approved the revised recapitalization plan which envisages the increase of the company’s capital by some 143 million euros. The sole purpose of the capital increase is to raise funds for the project for the construction of hydropower plant Dabar.
In January 2019, “HE Dabar” has launched an international tender for financing and construction of HPP Dabar. The selected partner will be obliged to build a dam with embankments and an accumulation basin, a surge tank, a machine house, two 200 kV transmission lines and a drainage channel. The preferred model of financing is a monetary loan with a 15-year repayment period and a four-year grace period. The project partner is expected to provide 85 % or more of the financing, while HET will provide up to 15 %. HPP Dabar will remain in HET’s sole possession following the construction which will last four years.
The 190 million euros worth contract was signed with China Energy Gezhouba Group in December 2021.
Future HPP Dabar is a part of hydroelectric system Gornji Horizonti, its planned power output would be 159 MW and its annual electricity generation should be about 250 GWh.