EFT News

Thursday, February 21, 2008
ESI: »TPP Stanari a signal for foreign investors«

Bosnia and Herzegovina has an unique opportunity to become a key energy player in this part of Europe, the European Stability Initiative (ESI) claims in its latest report. The influential think-tank from Berlin, claims that apart from Bosnia and Herzegovina, only Bulgaria and Romania have the potential to generate energy surplus to their requirements.    

The report particularly emphasises the significance of the Stanari TPP as an “unexpected success story” and claims that the energy sector in Bosnia and Herzegovina, in spite of the catastrophic post-war situation, has made commendable progress. 

“Electricity and coal production could integrate not only Bosnia and Herzegovina, but also the entire south-east Europe, in the same way the integration was achieved thanks to coal in the first stage of European integrations in the 1950’s” – ESI claims in the report. 

“Thanks to its central geographic location, Bosnia and Herzegovina has a very favourable position to supply countries with energy deficits, like Croatia, Slovenia, Montenegro, Serbia, Albania, Greece, Macedonia and Kosovo. Construction of new generating capacities would enable Bosnia and Herzegovina to take its natural position as the regional leader in energy production”. 

To support the claim, ESI claims that the construction of the Stanari TPP, the first private energy genartion project in the western Balkans, into which EFT will invest over EUR 600 million. The think-thank cites the project’s major impact on the general economic development in the Doboj region and claims that it is sending a powerful, positive signal for other foreign investors to become active in Bosnia’s energy sector. 

The estimates are that about 3000 employees will be involved in the construction of the Stanari TPP, with contracts worth around EUR 300 million going to domestic companies. 

The report states that the investment in the Stanari mine has already brought notable progress in the lives of the Doboj population and that the municipality has seen some dramatic positive changes in the past few years.