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Powerchina Resources to sell majority stake in Bosnia's Ivovik wind farm - local govt

Powerchina Resources to sell majority stake in Bosnia's Ivovik wind farm - local govt The East Wind Farm located in the Black Sea region of Romania. Image by Jade Power Trust.

SARAJEVO (Bosnia and Herzegovina), September 16 (SeeNews) - The government of Bosnia and Herzegovina's Canton 10 said it has approved plans by Sinohydro (Hong Kong) Holding Ltd, a unit of China's Powerchina Resources, to sell its 51% stake in local VE Ivovik, the owner of the Ivovik wind farm, to Luxembourg-based Ivovik Wind Power.

The other shareholders in the farm are CNTIC Capital, a Hong-Kong based unit of China National Technical Import & Export Corporation, with a 39% stake and individual investor Ekrem Nanic with a 10% stake, the government of Canton Ten said in a press release on Thursday.

The 130 million euro ($129.6 million) wind farm will have a total installed capacity of 84 MW and will produce 236.6 GWh of electricity per year.Its construction began in December 2021.

The wind farm is being built between the Tomislavgrad municipality and the town of Livno, in the western part of the country.

Canton Ten is one of the ten cantons of the Federation, one of two constituent entities of Bosnia and Herzegovina. The other is the Serb Republic.

($ = 1.00319 euro)

 
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