Bosnia: Energy company CEO announces investments and modernization in company power generation facilities

, SEE Energy News

The public company “JP Elektroprivreda” BiH achieved a profit of 3,5MEUR in 2012, said the General Manager of this company Elvedina Grabovica during the presentation of business results of the company in the “Tuzla” power plant.

The total company income amounted to 460MEUR in the last year. 6.509 GWH of electricity was produced during 2012. All buyers of EPBiH were supplied with electric power ordinarily.

37MEUR were invested in the coal mines, which are part of the holding EPBiH, during 2012 in the process of recapitalization. 33MEUR is in the purchasing phase. The acquisition of coal amounted to 6.23 million tons during 2012.

Activities for the preparation of the construction of new facilities were intensified.

The beginning of the constructions of three electricity facilities-hydro power plants “Vranduk” and “Ustikolina”, and small plants on the Neretva River are planned for 2013. Around 200MEUR are planned to be invested.

Activities on the modernization and restructuring of the “EPBiH” and mines are being continued.
Grabovica talked about preparation activities for Block 7 construction of TPP Tuzla, 600MEUR worth. He announced that selection of project partner is in progress at the moment, as well as the closure of financial construction and expropriation on construction location, performance projects for preparation work and issued approval are being done.

Model of Block 7 construction- 450 MW in TPP Tuzla is defined by BiH Government.
Partnership between PC Elektroprivreda BiH and chosen partner will be arranged with special agreement and it will be based only on obligation principles defined by BiH Government.

Natural resources are remaining in ownership of BiH and they cannot be the subject of privatization through joint investment. Industrial society, that will be formed, will lead the preparation, construction and exploitation of constructed object and be owner of the object. The ownership figure is the subject of discussions, partnership models and it will be harmonized with partners’ participation, considering that PC EPBiH cannot have minor part during the whole duration of Partnership contract. Joint ownership over established industrial society is limited to a certain period of time and PC EPBiH is expected to take over 100% of ownership after that- it was stated from the Communication Service PC EPBiH.

Source EPBiH/Serbia Energy SEE Desk