December 6 (SeeNews) - Bosnian hydro power producer Hidroelektrane na Drini [BANJ:HEDR-R-A] said on Tuesday that its shareholders approved a plan to increase the share capital of its fully-owned unit Hidroelektrane Bistrica by a further 10 million marka ($5.4 million/5.1 million euro), shortly after deciding to raise it by 30 million marka.
Shareholders of Hidroelektrane na Drini greenlighted the plan at a meeting held on December 5, Hidroelektrane na Drini said in a filing with the Banja Luka stock exchange.
The planned capital increase is aimed at securing additional financing for the construction of three hydro power plants (HPPs) on the river Bistrica, Hidroelektrane na Drini said in an earlier filing.
On October 25 the hydro power producer received the shareholders' nod to raise Hidroelektrane Bistrica's capital by 30 million marka.
Hidroelektrane Bistrica's equity capital totalled 15.8 million marka as at the end of 2021.
In December 2021, Hidroelektrane Bistrica launched the construction of three HPPs with an installed capacity of 39 MW on the river Bistrica, a project worth 103 million euro ($108.4 million). The three HPPs are expected to produce 152 GWh of electricity per year. They will be built by China National Aero-technology International Engineering Corporation.
Hidroelektrane na Drini's shares closed 2.76% higher at 0.298 marka on the Banja Luka bourse on Tuesday.
(1 euro = 1.95583 marka)