Representatives of the Agency for the Promotion of Foreign Investments in Bosnia and Herzegovina (FIPA) visited the construction site of the Ivovik wind farm near Livno.
Director of the project company Xiao Xin said that the wind farm will consist of 20 turbines with power output of 4.2 MW each, totaling 84 MW, adding that the project will cost around 68 million euros.
So far, around 22 million euros has already been invested in the project. The project company has environmental, spatial and construction permits, as well as all permits related to the production of electricity, while the concession for a wind farm was issued for a period of 30 years. The installation of the first wind turbine has begun, while the foundations for the others are being laid.
In September, following Bosnia’s Herzeg-Bosnia Canton Government’s approval of the request of Sinohydro Holding, a subsidiary of Chinese Powerchina Resources, for the sale of its 51 % stake in local company which in charge of the construction and operation of wind farm Ivovik, the share was sold to Luxembourg based Ivovik Wind Power.
The shareholders in the project company VE Ivovik are now: Ivovik Wind Power with 51 %, CNTIC Capital, a Hong-Kong based subsidiary of China National Technical Import & Export Corporation, with 39 % stake and individual investor Ekrem Nanic with 10 % stake.
