The Commission for Protection of Competition of Serbia has approved the takeover by Elektroprivreda Srbije (EPS) together with Elektroprivreda Republike Srpske (ERS) of the company “Hidroelektroenergetski sistem Gornja Drina” in Foca, according to the decision published by the Commission.
ERS has full control over the company from Foca through its subsidiary from Trebinje, and the Commission hereby greenlights EPS to acquire a share in control and ownership.
HES Gornja Drina was founded by the decision of the Government of Republike Srpske in September 2019 through the merger of companies Hidroelektrana Buk Bjela and Hidroelektrane Foča i Paunci, related to the project of the construction of hydro power system Gornja Drina.
According to the decision, the project of the construction of HES Gornja Drina envisages the construction of hydropower plants Buk Bjela, Foca and Paunci, whose total installed power would be 180.9 MW.
EPS will access HES Gornja Drina after the decisions of the Supervisory Board and the Government Serbia and, based on the investment it will make, it should acquire a 50-60% stake.
The beginning of the construction of the HPP Buk Bjela has been announced for January 2021, whereas, for the other two HPPs, the beginning of the construction is scheduled for 2023.