Republika Srpska energy company and its HPP Drina prepares for JV Drina project with RWE, protocol with Serbian EPS cancelled

29. January 2013. / SEE Energy News

“Hidroelektrane na Drini” JSC Višegrad held the urgent company assembly meeting and reached decision on future of Drina HPP projects.

Major topic was the decision on cancelation of protocol with Serbian Energy company „Elektroprivreda Srbije“for hydro energy projects of Gornja Drina and Sutjeska rivers. This document was signed in Fabruary 2008, but its concretization and realization was never started.

Decision of cancelation of protocol with Serbian EPS was made so “Elektroprivreda Republike Srpske” can enter the realization of the agreement for strategic partnership, research, development, construction and use of Drina river upper basin’s hydro energy potential, concluded with German company “RWE Innogy GmbH” that Republic of Srpska Government and Mixed holding “Elektroprivreda Republike Srpske” from Trebinje signed.

“Elektroprivreda Republike Srpske” will reimburse EPS for 522.954,90 Euros on basis of costs of research and previously justified study.

Agreement with German company predicts certain obligations to “Hidroelektrana na Drini” i.e. “Elektroprivreda RS”, so expert team for following the implementation of the strategy partnership document is formed according to Managing Director’s decision.

It is essential to deliver all required documents, i.e. all technical documentation of RWE which “Elektroprivreda RS” and “Elektrane na Drini” posses, and to leave documents about land, project’s documentation with research work and all done so far.

When all documentation is collected, joint team which will estimate documentation will be formed, but independent consultant will be engaged also. Expenses related to this project will be paid by German RWE (60 percent), “Hidroelektrane na Drini” and “Elektroprivreda RS” (40 percent).

-Some deponent conditions that should be accomplished in order to approach the final decision were agreed during negotiations with “RWE”- it was said on exceptional Assembly of stockholders from Visegrad.

The deadline for conditions’ accomplishing is 24 April 2013 when “RWE” Company will make decision for further participation in project, on the basis of gathered documents.

Source Serbia Energy Magazine

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