EFT Signs 64 Mln Euro Concession Deal for Hydro Power Plant in Bosnia's Serb Republic

The Ulog power plant, to be sited on the river Neretva, will have a capacity of 35 megawatts and an average annual output of 86 gigawatthours, the Republic’s Industry, Energy and Mining Ministry said in a statement after the signing of the deal.

The plant will be built within the first four years of the 30-year concession term, it added.

In August 2008 the energy regulator of the Serb Republic granted EFT a full construction permit for the 410-megawatt coal-fired Stanary power plant, which is expected to produce around 3,000 gigawatthours per year.

The Stanari plant is the first lignite-fired power generating facility that will be built in Bosnia in the last 20 or so years. The construction of the power plant is expected to be completed by 2012.

The EFT Group (www.eft-group.net) is a leading electricity trader in southeast Europe. It has representative offices in 17 countries in Western, Central and Eastern Europe.

(1 euro=1.95583 Bosnian marka)