Petrović: Montenegrin, Republic of Srpska power utilities to establish joint company

State-owned power utilities Elektroprivreda Republike Srpske (ERS) and Elektroprivreda Crne Gore (EPCG) intend to establish a joint company for investments, ERS CEO Luka Petrović said.

The managements of ERS, based in the Republic of Srpska, and Montenegrin EPCG initiated setting up a joint firm based in Trebinje to consider new investments. Trebinje is located near the Montenegrin border in the Republic of Srpska, one of the two entities making up Bosnia and Herzegovina. The other one is called the Federation of BiH.

Petrović revealed that EPCG would hold 51% of the joint business, and ERS the remaining 49%.

It would allow the companies to develop investments in the Republic of Srpska and Montenegro, he told ATV, state news agency SRNA reported.

Of note, on March 5 in Banja Luka, Petrović met with Chairman of EPCG’s Board of Directors Milutin Đukanović. Two days later they participated in the meeting of the ministers of energy and mining of Montenegro, Serbia and the Republic of Srpska.

Montenegro could join the Gornja Drina project

Đukanović and Petrović have discussed the possibilities of cooperation in building renewable energy facilities, better utilization of the Bileća lake and the construction of the Buk Bijela hydropower plant, ERS said on its website.

The idea is to install solar power plants on the lake, but also to restore the old project for HPP Buk Bijela, with a larger capacity, for additional benefits for the Gornja Drina (Upper Drina) hydropower system, Luka Petrović told ATV.

The Gornja Drina project consists of proposed hydroelectric facilities Buk Bijela, Foča and Paunci

Gornja Drina consists of proposed hydroelectric facilities Buk Bijela, Foča and Paunci. The project firm is owned Serbia’s power utility Elektroprivreda Srbije (EPS) and ERS. If the old project is restored, the system would be expanded to Montenegro, but it would not endanger the canyon of the river Tara, Petrović stressed.

At the meeting in Belgrade, Montenegro, Serbia and the Republic of Srpska have agreed to jointly develop energy projects.