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Nov 06, 2007 14:00 EEST
ZAGREB (Croatia), November 6 (SeeNews) – Croatian blue-chip power transmissions equipment producer Dalekovod and state-owned power utility HEP have signed an agreement to build jointly wind farms in which they will invest almost 140 million euro ($204 million), local media said on Tuesday.
“We plan the construction of wind farms with a combined capacity of some 100 megawatts on several locations and the first of them should start operating by the end of 2008 or the beginning of 2009,” daily Vjesnik quoted Dalekovod’s CEO Luka Milicic as saying. Milicic signed the agreement with HEP’s CEO Ivan Mravak on Monday.
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Milicic and Mravak were not immediately available to comment.
HEP has said earlier that it plans to expand its business to wind farms by 2010 to help reduce carbon dioxide emissions and curb the country's dependence on energy imports. It owns 19 hydro power plants and 12 thermal power plants and is building several others. It also owns 50% of the nuclear power plant Krsko located in neighbouring Slovenia and imports electricity.
The shares of Dalekovod traded at 1,560 kuna ($309 /212 euro) on the Zagreb bourse on Tuesday by 1130 GMT, up from Monday’s closing of 1,480 kuna.
HEP so far has issued only corporate bonds, not shares.
(1 euro= 7.3415 Croatian kuna)
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