EFTs 350MEUR Bosnian new power plant Stanari construction starts in september

, News Serbia Energy

The representatives of government of Republika Srpska, energy company EFT and Chinese Secuan development bank signed on 20.6.2012 the credit loan financing contract for construction of new Thermal Power plant Stanari, in value of 350 MEUR. EFT CEO Hamovic announced the plant connection to grid by end of 2015.

The overall project in total value of 550 MEUR, beside the 300MW power plant includes also the investments into Stanari mine and its capacity increase in production of coal.

Duration deadline for the construction of this power generation facility is 45 months and commissioning is planned for beginning of 2016, which is actually three years later than initial plans of the investor, the energy trading company EFT.

It is projected that the TPP Stanari will have an annual production of 2.000 GWH in basic operation work. The contractor for this project is the Chinese company Dongfang Electric Corporatation.

Representatives of the government of Republika Srpska stated the importance of the EFTs Stanari TPP project but also mentioned the activities on new TPP Ugljevik project which is also an opportunity for investors.

CEO of EFT expressed the expectations that the construction will start soon and that the power plant should be connected to the grid by end of 2015. He also expressed gratefulness to the RS government for its assistance in project preparation.

The director of the Chinese development bank noticed that talks started in 2009 and that the agreement was reached thanks to the efforts of all parties and support from government.

Three contracts

Three contracts were signed on the ceremony. First is the annex of the contract for concession, exploitation of coal in Raskovac fields in Stanari near Doboj, signed by minister of energy in RS government Zeljko Kovacevic and EFT Stanari company mine Ivica Jakovljevic.

Second contract is for loan for the construction of new power plant Stanari, signed by director of Chinese Secuan development bank and EFT Stanari company.

Third direct contract on coal concession and power plant construction were signed by Minister of energy of Republika Srpska, Chinese Development Bank and EFT vicepresident.

Source Serbia Energy Magazine