Exclusive, regional market: New Power Plant 600MW Ugljevik 3 in Republika Srpska, electricity will be exported to EU

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In Republika Srpska the construction of new 600MW power plant in Ugljevik power plant is expected to start this year, this will be the biggest Greenfield investment into regional power generation sector.

According to Sinisa Majstorovic the executive manager of Banjaluka company Comsar Energy Republika Srpska which is the investor of this new 600MW the value of the investment is 1,4 billion Bosnian KM ( equivalent to 700 mil euro). This is far more than the initial plan in Ugljevik plant which projected 2x200MW but the new project will build 2x300MW.

According to Majstorovic, the equipment contract will signed by end of june and soon the construction itself will follow.

What makes the Comsar Energy different from other investors in Bosnia is the fact that the owner of the company is Russian billioner Rashid Sardarov who has the funds for the project and does not seek any financial support from the state or international lenders. Exactly this fact will ensure the project is completed within estimated 30 months, upon contract signing with foreign partners.

Different documentation preparations are in progress, instead of 400MW the new power plant will have 600MW and some designs has to be adopted, also the coal deposits analysis are almost done with confirmed 75 mil tons of coal reserves.

As for the coal reserves the company is also investigating areas Peljave-Tobut which belongs to neihgbouring municipality of Lopere.

Ugljevik authorities with the investor are preparing the location and ground for construction, also the working camp erection is almost completed.

The construction of new power plant will implement the latest European standards of air and ground protection. The minister of energy in Republika Srpska Mr.Zeljko Kovacevic is also satisfied with the works progress.

According to Kovacevic the benefits for Republika Srpska are great, for local communities, employement and incomes but also for fulfillment of Energy community SEE obligations for market liberalization and concession matrix.

The electricity produced in new Ugljevik 3 power plant will be exported to forign markets so the new company will not be a competitor to Electric power company of RS which is also part of the contract with Ugljevik mines and power plant which is a part of state owned energy company. The investor will either not enter into coal sales business which again confirms the closed value chain of the new power plant.

Source: Serbia Energy Magazine/Nezavisne BH