Bosnia's Hidroelektrane na Drini to further raise capital of Hidroelektrane Bistrica

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 a filing with the Banja Luka stock exchange on Friday.

Hidroelektrane na Drini's shareholders will vote on the proposed increase on November 28.

The hydro power producer received the shareholders' nod on October 25 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 ($106.3 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 last traded on the Banja Luka bourse on November 7, when they closed flat at 0.29 marka.

(1 euro = 1.95583 marka)