Region, Directors of power utilities EPS and ERS released a joint statement

, SEE Energy News

Directors of power utilities EPS and ERS released a joint statement in which they said that the two companies will successfully complete the construction of hydropower plants on the upper course of the Drina river and will continue to seek opportunities to work together on new projects and investments.

The two officials discussed the implementation of the project for joint construction of HPPs on the Drina river, potential future joint projects, cross- border electricity transmission and the possibility of harmonizing of power plant overhauls between the two utilities.

Acting Director of EPS Milorad Grcic said that the two companies are working together on the Upper Drina HPP projects, the construction of three HPPs – Buk Bijela, Foca and Paunci worth some 520 million euros, pointing out the importance of such cooperation in times of energy crisis.

Acting Director of ERS Luka Petrovic said that the joint venture is already performing preliminary works on HPP Buk Bijela project, adding that the project will be realized despite political obstructions coming from BiH’s other entity – the Federation of Bosnia and Herzegovina. He added that EPS is also interested in participation in HPP Boka project, joint developed by ERS and Montenegrin EPCG.

ERS and EPS can raise cooperation to a higher level in the field of investments, electricity trade and energy network development. They can harmonize the overhaul work plans for the power plants, which has now proved important, and could relieve both companies financially. The two companies are now starting projects that have been waiting for decades in order to secure the future energy independence of the two countries, which is the ultimate goal, Petrovic concluded.