Lazard commences due diligence of INA
Investment consulting company Lazard started its due diligence process of the Croatian oil and gas company Ina. The due diligence is part of an effort by the Croatian Government to evaluate the company and rebuy its shares from the Hungarian based Mol Group after several disputes between the two sides. Source: Poslovni
46 MW wind starts operation in Montenegro
Wind farm Možura consists of 23 turbines which were constructed by the consortium between Maltese based Enemalta and China's Shanghai Electric Power. Investors were granted a land concession in the duration of 20 years for a price of €186 000 per annum. Capital costs of the project were €90 million. The farm will produce around 110 GWh per annum. The wind farm project will be subsidized through a power purchase agreement (PPA) that guarantees a price of 96 €/MWh for the firs
The sale of ČEZ Bulgaria stopped
ČEZ Bulgaria is still not for sale. This is the conclusion of the Bulgarian Commission on the Protection of Competition that prohibits Eurohold Bulgaria AD’s acquisition of ČEZ Bulgaria assets. The decision is considered controversial and marks a second unsuccessful attempt of sale in little over a year. During mid-2018 the Commission disabled an acquisition attempt by Bulgarian based Inercom. Source: BNE IntelliNews
Underwater cable between Italy and Montenegro in commercial operation
Underwater cable (UWC) connecting electricity systems of Italy and Montenegro marked its Commercial Operation Date (COD) this week. Italian Transmission System Operator (TSO) Terna announced that the project’s overall investment amounted to €1.1 billion. UWC is 445 kilometres in length and has a capacity of 600 MW. Source: Balkan Green Energy News
Croatia’s sets a goal of 36.4% of renewables’ share by 2030
The Croatian Government proposed to parliament the new Energy Sector Development Strategy until 2030. The strategy contains projections up until the year 2050 and envisions a share of renewable energy in gross final energy consumption to be 36.4% by the year 2030. As things currently stand, according to the Croatian Energy Market Operator (HROTE), Croatia has a share of renewable sources of over 28% on an annual basis. This figure is well above the 20% approved threshold set
Preparatory construction works begin at Tuzla 7
Construction is to set to start at the 450 MW thermal power plant project of Tuzla 7. Preparatory works should last during a period of 12 months, after which China Gezhouba Group, the EPC contractor, will begin the commissioning process of the new block. Construction should last for 48 months. The unit is to be operational by the end of 2024 and should replace existing blocks 3, 4 and 5. The investment is estimated at €722.35 million and is to be realized by a €613 million cr
