The Republic of Srpska and Statkraft to cooperate on hydropower development

30.01.2008 08.00 | pressrelease

(Banja Luka/Oslo, 30 January 2008) The Government of the Republic of Srpska, BiH and Statkraft have yesterday signed an agreement for an extensive collaboration within the energy sector. The first joint project is specified as the development and construction of four hydropower plants in lower Vrbas River, expected to have an annual generation of 450 GWh.

Prime Minister Milorad Dodik of The Republic of Srpska in Bosnia and Herzegovina and Bård Mikkelsen, President and CEO of Statkraft, yesterday signed an agreement of cooperation within the energy sector in the Republic of Srpska. The agreement covers development and construction of new environment-friendly power plants and addresses further collaboration in other energy related areas.

The agreement on cooperation that was signed in Banja Luka specifically covers the development of four hydropower plants in lower Vrbas River. The projects are expected to have an installed capacity of approximately 75 MW and an annual generation capacity of 450 GWh. Construction is expected to require an investment in the excess of € 100 million. The first joint project will be feasibility studies with the target of construction of these hydropower plants.

"This agreement is a major step forward for Statkraft in the region. It is perfectly aligned with our strategy to develop hydro power projects in Southeast Europe, building on our core competence and focus on environment-friendly energy”, says Bård Mikkelsen, President and CEO of Statkraft.