Russians gave up Construction of Four Cascade Hydroelectric Power Plants

September 24, 2019 4:00 PM

The project for the construction of four cascade hydroelectric power plants, which are planned to be located at the lower reaches of the Vrbas River near Laktasi, was suspended due to non-profitability, Republika Srpska Ministry of Energy and Mining confirmed to Nezavisne newspapers.

Namely, as they explained, the Russian partners, who were supposed to build the power plants, informed the RS Government that they had concluded after the analysis that the project was not profitable.

“After completing further research and analysis of the available information, according to information we received from a Russian investor, a feasibility study showed that the project was not profitable for them,” it was stated. However, as noted in the Ministry, the Russians have confirmed their interest in investing in other hydropower projects in the RS.

“They also confirmed their interest in exploring the possibility of realizing other hydropower projects in the RS,”the ministry said.

As a reminder, last September, Petar Djokic, then RS Minister of Industry, Energy and Mining, and Leonid Chernigov, CEO of Russia-based Rakurs Engineering from St. Petersburg, signed a Memorandum of Understanding on the implementation of a project to build four cascade hydropower plants on Vrbas 86 MW.

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