CGGC China Gezhouba : Officially Signed the Financing Agreement for the Dabar Hydropower Station Project in the Republika Srpska of Bosnia and Herzegovina

On December 31, 2021 local time, the Financing Agreement on CGGC's Dabar Hydropower Station Project in the Republika Srpska of Bosnia and Herzegovina was officially signed, marking that the largest hydropower station project in Bosnia and Herzegovina undertaken by a Chinese company is about to enter the stage of contract performance.

Project renderings

On May 4, 2020, CGGC and Dabar Electric Power Company, a subsidiary of Bosnia and Herzegovina Electric Power Company, signed an EPC contract for the Dabar Hydropower Station Project, with a total amount of about RMB1.7 billion. This is the first European hydropower project signed by CGGC, leveraging its professional advantages as an "International Hydropower Ace". Prime Minister of the Republika Srpska of Bosnia and Herzegovina witnessed the signing by video, saying that the Project is a livelihood project long-awaited by the people of Bosnia and Herzegovina, which will greatly promote the economic development of the surrounding areas while promoting the social and economic development of Bosnia and Herzegovina.

The Dabar Hydropower Station is the largest hydropower project undertaken by a Chinese company in the Central and Eastern Europe. Located in the Trebinje Region, the Republika Srpska of Bosnia and Herzegovina, the Project comprises the design, purchasing and constructing of all the facilities of the 160-megawatt runoff hydropower station, with a contract period of 48 months. It is expected to start construction in March 2022. Upon completion, the Project will effectively alleviate the regional power shortage and bring green ecological benefits, especially in the crucial period of global energy transition, it will serve as a strong engine driving the economic development of Bosnia and Herzegovina.

After nearly a year and half of multi-party negotiations, the relevant units of China and the Republika Srpska of Bosnia and Herzegovina have overcome the impact of many unfavorable factors such as epidemic and time difference, and finally completed project financing by the end of 2021. This Project is also another major livelihood project successfully financed by CGGC following the Tuzla Project in Bosnia and Herzegovina.

Under the background of carbon neutrality target, CEEC and its affiliated enterprises will adhere to the concept of green development, cooperate with all parties, fully promote project construction, take multiple measures to ensure project completion on schedule, create projects that benefit regional economic development and people's livelihood, and facilitate green and low-carbon development of the energy system in Bosnia and Herzegovina, thus injecting new momentum into the economic and trade cooperation between China and the Republika Srpska of Bosnia and Herzegovina.