Electricity

Serbia’s EPS to take over majority of company HES Gornja Drina in BiH

EPS to take over majority ownership over company HES Gornja Drina in BiH

Government of the Republic of Srpska

Published

November 6, 2020

Comments

0

Share

Published:

November 6, 2020

Comments:

0

Share

In the next two months, power utility Elektroprivreda Srbije (EPS) should take over the majority ownership over the company HES Gornja Drina from power utility Elektroprivreda Republike Srpske (ERS).

Development firm Hidroenergetski Sistem Gornja Drina is registered in Bosnia and Herzegovina, where it has received a concession for building three hydropower plants on the Drina river with an overall installed capacity of 180 MW –  HPP Buk Bijela (93 MW), HPP Foča (44 MW) and HPP Paunci (43 MW).

The decision to change the ownership structure was made by the Government of the Republic of Srpska. Competition watchdogs in Serbia and BiH approved the move.

The Commission for Protection of Competition of Serbia granted consent to EPS for the management of the joint venture.

EPS will own 51% and ERS 49%

The Council of Competition Bosnia and Herzegovina decided there was no obligation to report on market concentration in the case. The independent body said HES Gornja Drina is not an active participant in the market of production and distribution of electricity, and that it will become one when power plants are built.

The Government of the Republic of Srpska approved the transfer of a 51% stake in HES Gornja Drina from ERS to EPS. It means ERS would remain the owner of the remaining 49%.

HES Gornja Drina is obliged to submit a request for the change in ownership in the register of business entities within 60 days from the receipt of the decision. The firm must also inform the Concessions Commission of the Republic of Srpska and the Ministry of Mining and Energy.

The decision was made at the government session held on October 22, and entered into force on November 4, the day after its publication in the Official Gazette of the Republic of Srpska.

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

BiH digitalization speed up investments

BiH turns to digitalization to speed up investments

01 October 2022 - A new application provides a customized guide for specific projects, with a list of permits, consents and other necessary documentation

Wind turbine Siemens Gamesa lay off 10 workforce

Wind turbine giant Siemens Gamesa to lay off 10% of workforce

30 September 2022 - Delivery delays and the rise in material costs forced Siemens Gamesa to cut 2,900 jobs as part of its restructuring plan

Rama Biggest issue not electricity price availability

Rama: Biggest issue will not be electricity price but its availability

30 September 2022 - Albania's Prime Minister Edi Rama called on citizens again to save electricity, saying it is not just about the financial cost

Gas interconnector Greece Bulgaria commercial operation October 1

Gas interconnector Greece-Bulgaria to start commercial operation on October 1

29 September 2022 - Greece and Bulgaria issued operating permits for the interconnector between the two countries' gas networks