Montenegro: Intesa SanPaolo to support China Hubei Power China in race for new TPP Pljevlja unit 2 construction

, SEE Energy News

Leading Italian bank group Intesa SanPaolo will be a partner to Chinese Hubei Power China in the project of construction of new second unit in Thermal Power plant Pljevlja if Chinese bidder wins this tender.

Intesa signed the support letter for Hubei and delivered it to Ministry of financing and also to Power Utility company EPCG. Letter states that Intesa wishes to finance the offer of Hubei which is also supported by leading Chinese bank ICBC.

These two world known banks wants to offer joint financing in order to decrease the financing risk and speed up this project for the benefit of Montenegro.

China Hubei Power China gave lowest offer for construction of second unit in TPP Pljevlja in value of 269MEUR, other bidders were Chinese CMEC and Check Skoda Praha companies.