EFT News

Wednesday, September 9, 2009
EFT to build the Ulog hydro power plant on the river Neretva

EFT has been granted a concession by the Government of Republica Srpska to build and operate the Ulog hydro power plant on the river Neretva, in Bosnia and Herzegovina. 

“Over the last several years EFT has proven its track record in successfully developing energy projects in Bosnia and Herzegovina. We are delighted that we will also be developing the Ulog plant, which will complement the Stanari complex and provide us with greater flexibility in producing energy”, said Zlatan Matko, EFT’s head of investment. 

According to the pre feasibility study, the Ulog HPP will be based on two units with total installed capacity of 35MW, which will annually produce 76 GWh of energy. The total value of the project is expected to be in the region of 100 million Euro’s. 

“We will commence the first phase of the project immediately. The activities in this phase will include the preparation of a detailed feasibility study, the preparation of a spatial and regulation plan, as well as the preparation of tenders for the procurement of necessary equipment. As in the case of the Stanari project, Ulog will be developed not only in line with the local legislation, but also international norms on the protection of the environment. We expect that the phase 1 of this project to be complete within a year”, said Matko. 

Apart from the development of the plant, the projct envisages a building fo a connection road, as well as a 110 kV transmission line between Ulog HPP and TS Kalinovik. According to planned dynamics, the plant should be put into operation in 2013. 

EFT is the leading foreign investor in the energy sector of Bosnia and Herzegovina. To date the company has successfully developed the Fatnicko Polje – Bileca accumulation project, as well as the Stanari lignite mine, where it is building a modern 420 Mw thermal power plant. The total value of this investment is over 650 million Euro.