Elektroprivreda Republike Srpske (ERS) is a state-owned integrated power company in Republika Srpska and Bosnia-Herzegovina.
In 2006 CZE reached an agreement with ERS to form a joint venture company, Nove Elektrarne Republike Srpske (NERS), which would upgrade the existing Gacko thermal power plant, built a second unit at the power station and expand the nearby Gacko coal mine. In return for investing €1.5 billion in the project, CEZ gained a 51% stake in the new joint venture company. However, In January 2009 CEZ pulled out of the deal stating that it was because of "repeated breach of the implementation contract by its partners in Bosna and Hercegovina." See Gacko Thermal Power Plant Expansion for more details.
↑ "European Energy Community", Euracoal website, accessed October 2012.
↑ CEZ, "ČEZ applied its safety option in the Gacko project", Media Release, January 28, 2009.
This page was last edited on 11 October 2012, at 09:05.