(Banja Luka/Oslo, 30 January 2008) The Government of the Republic of Srpska, BiH and Statkraft have yesterday signed an agreement for an extensive collaboration within the energy sector. The first joint project is specified as the development and construction of four hydropower plants in lower Vrbas River, expected to have an annual generation of 450 GWh.
Prime Minister Milorad Dodik of The Republic of Srpska in Bosnia and Herzegovina and Bård Mikkelsen, President and CEO of Statkraft, yesterday signed an agreement of cooperation within the energy sector in the Republic of Srpska. The agreement covers development and construction of new environment-friendly power plants and addresses further collaboration in other energy related areas.
The agreement on cooperation that was signed in Banja Luka specifically covers the development of four hydropower plants in lower Vrbas River. The projects are expected to have an installed capacity of approximately 75 MW and an annual generation capacity of 450 GWh. Construction is expected to require an investment in the excess of € 100 million. The first joint project will be feasibility studies with the target of construction of these hydropower plants.
"This agreement is a major step forward for Statkraft in the region. It is perfectly aligned with our strategy to develop hydro power projects in Southeast Europe, building on our core competence and focus on environment-friendly energy", says Bård Mikkelsen, President and CEO of Statkraft.
Statkraft is a European leader within renewable energy. The Group generates hydropower, wind power, gas power and district heating, and is a major player on the European energy exchanges. In Norway the company supplies electricity and heat to around 600,000 customers through its shareholdings in other companies. In 2006 Statkraft posted a profit after tax of NOK 6.3 billion (restated in accordance with IFRSs: NOK 7.6 billion), and employed more than 2,250 employees in ten countries. The world needs pure energy. This is what Statkraft delivers every day.
For further information, please contact:
Torbjørn Steen, VP Communications, tel.: +47 24 06 72 28 / +47 911 66 888
Tima Iyer, Regional Director South-East Europe, tel.: +47 24 06 74 69 / +47 906 23 475