July 31, 2018
July 31, 2018
China’s construction company Norinco International Cooperation has obtained a building permit for the construction of a 156 MW wind farm near the City of Senj in Croatia, local media reported.
Senj Mayor Sanjin Rukavina announced that Norinco obtained the building permit at a recent session of the city council. He said that another session of the city council will be held during August to discuss the city’s budget revision given that the issuance of the building permit for the wind is expected to create significant revenues for the city.
At the end of 2017, local media reported that the Chinese construction company bought 76% of Croatia’s Energija Projekt for EUR 32 million, which gave it the right to build and operate the 156 MW wind farm.
In March this year, law firm Norton Rose Fulbright announced that it has advised Norinco on the USD 71 million acquisition of rights to build and operate a 156 MW wind power project in Croatia.
The wind farm comprises 39 units of 4MW wind turbines and covers an area of 44.8 square kilometers, according to the law office. The estimated lifetime is 23 years with an annual output of 530 million kWh.
The Norton Rose Fulbright team was led by Tom Luckock who said that by investing in this project, Norinco is positioning itself for expansion in both the energy and European market share and portfolio.
“This deal is a fine representation of the activities driven by Belt and Road Initiative and is only one out of a very robust pipeline of deals,” Luckock said.
The City of Senj and the Brinje municipality expect significant revenues from the wind farm operation, the Croatian media reported. The Chinese company is also interested in new investments in this region, not only in the energy sector.
Norinco International Cooperation is a Chinese state-owned construction company which has contracted large-scale projects, involving in the transportation, housing, energy, communications, environmental protection, and other sectors in Asia, Africa, and Europe.
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