PowerChina Resources sells its majority stake in Ivovik wind power project

Foto: Brett Sayles from Pexels


September 20, 2022





September 20, 2022




A company from Luxembourg became the majority owner of the Ivovik wind farm project in Livno in Bosnia and Herzegovina. The cantonal government approved the transfer of the stake from Sinohydro Holding, registered in Hong Kong, to Ivovik Wind Power.

Sinohydro Holding, a subsidiary of PowerChina resources, sold a majority stake in the Livno wind farm project.

Sinohydro Holding from Hong Kong, a subsidiary of PowerChina Resources, sold its 51% stake in VE Ivovik, registered in Sarajevo, to Ivovik Wind Power, a firm headquartered in Luxembourg. The groundbreaking ceremony was held last December. PowerChina Resources is controlled by Power Construction Corp. of China, better known as PowerChina.

The Government of Canton 10 approved the transfer of majority ownership at the initiative of its Ministry of Economy. It said CNTIC Capital (China National Technical Import and Export Corp.) would keep 39% of the project firm and that Ekrem Nanić of Banja Luka has a 10% stake.

The Government of the Federation of Bosnia and Herzegovina approved the issuance of an energy permit for the Ivovik project in February 2020.

Canton 10 earlier said the Ivovik wind farm would have 42 turbines with a total capacity of 84 MW. The site is on the western edge of the municipality of Tomislavgrad and the eastern part of the territory of the city of Livno. Annual output is estimated at 236.6 GWh.

The investment is valued at EUR 130 million.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

PPC progress Mesochora hydropower irrigation

PPC making progress with Mesochora hydropower, irrigation project

23 September 2022 - The environmental impact study for the Mesochora hydropower plant in Greece is finished and expropriation is advancing, a news report said

terra solar lebane investment

Terra Solar to install 8 MW solar power plant in southern Serbia

23 September 2022 - Representatives of the company Terra Solar visited the Municipality of Lebane to present the solar power plant project

Macron France solely renewables nuclear alone

Macron: France can’t rely either on renewables or on nuclear power alone

23 September 2022 - President Emmanuel Macron inaugurated France's first offshore wind park and promised to speed up renewable energy and nuclear power projects

ProfesSor Nikola Rajakovic

EPS’ transformation through development of new renewables capacities guarantees secure electricity supply in Serbia

21 September 2022 - The energy sector in Serbia is at a historic turning point after breakdowns in obsolete...