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Norwegian firm to invest $259 mln in Bosnia energy

  Norwegian company Technor Energy ASA pledged on Friday to invest €200 million ($259 million) in building six hydro-power plants in the Bosnian Serb republic, the region’s prime minister said.


The government last year awarded concessions to the Norwegian partner to build the plants on the Bosna river in northwestern Bosnia. “The announced investment will enable output of additional 76 megawatts of power,” Prime Minister Milorad Dodik said in a statement after a meeting with Norwegian partners, adding the construction would start next year. The statement did not provide details of the agreement. Nobody in the government was immediately available for comment.

The government of the Serb republic, an autonomous region that makes up Bosnia along with the Muslim-Croat federation, has awarded a series of concession contracts for the construction of small hydro-power plants. Neighboring Serbia’s power monopoly EPS said this week it was set to establish a joint venture with the Serb republic to build hydro power plants on the river Drina in the east of the country.

The Bosnian Serb government has said it was determined not to privatize the energy sector but to have a partnership with potential investors. Bosnia and Bulgaria are the only electricity exporters in southeast Europe. (Reuters)