Bosnia and Herzegovina: Recapitalization of HE Bistrica in plan, SEE Energy News
HE Bistrica was acquired in 2019. “Hidroelektrane na Drini”, a subsidiary of Bosnian power utility ERS, plans to recapitalize HE Bistrica this year, and invest some 6.5 million euros in it so it can operate. The statement from “Hidroelektrane na Drini” said that in order to finance investments and current operations of the company in 2021, it plans to recapitalize HE Bistrica by increasing its share capital by some 6.5 million euros, of which 4.6 million euros refers to the financing of planned investments, and 1.9 million euros for financing of current operating costs. In 2020, parent company increased the share capital of HE Bistrica by 2 million euros to a total of 7.3 million euros.
In 2019, “Hidroelektrane na Drini” signed an agreement for the acquisition of 51 % stake in the company that holds concession for the construction of hydropower plant Bistrica for some 5.4 million euros. According to the agreement, “Hidroelektrane na Drini” acquired 38.5 % stake from Energo Bosna, 2.5 % stake from Kaldera Company and 10 % from Elektrodistribucija Pale, another ERS’ subsidiary. After the acquisition Czech-based Energo Bosna and local Kaldera company will jointly own the remaining 49 % in HPP Bistrica. “Hidroelektrane na Drini” later acquired 100 % capital of the company for a total of 10.6 million euros. In 2008, ERS sold 90 % stake in HPP Bistrica to Kaldera Company for some 3.4 million euros, and now has bought back 51 % stake in the plant for some 5.4 million euros.