DGAP-News: United Energy Group plc: Republic of Srpska Government Decrees Energy Strategy through 2030 - Tender for Selection of Strategic Partners this August
(firmenpresse) - United Energy Group Plc. / Miscellaneous
02.08.2010 12:16
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Republic of Srpska Government Decrees Energy Strategy through 2030 - Tender
for Selection of Strategic Partners this August
Haslemere, United Kingdom - August 2, 2010 - In its 183rd session, the
Government of the Republic of Srpska ratified the energy strategy it had
presented in late May of this year. The strategy paper lays the ground for
the expansion of the domestic energy market during the next 20 years,
placing particular emphasis on the resource of hydroelectric power. To this
end, three river systems, among them upper and middle Drina, are to be
redeveloped.
'For the selection of the strategic partners who will support the Republic
of Srpska in her expansive development of hydroelectric power on the upper
Drina, a broad-based tender will get under way this August. This will bring
a lengthy process that plays a vital role for our Southeast Europe strategy
to a speedy conclusion,' said Dr. Rolf Haferkamp, CEO of United Energy
Group.
The Republic of Srpska places high requirements on its potential strategic
partners. For one thing, interested companies must document an annual
turnover of 5 billion Euros, an equity base of 3 billion Euros, and
consolidated profits of 400 million Euros over the past 3 years. In
addition, bidders must have a demonstrable installed capacity of more than
2,000 MW in their existing power generation portfolio, half of which must
be generated through hydroelectric projects. 'Few international players are
able to meet these criteria,' said Haferkamp who welcomes the tender as
legal foundation for the privatisation efforts undertaken by the Republic
of Srpska and as a necessary means to comply with the EU transparency
rules.
On the whole, the idea is to realise, together with the strategic partner,
four hydroelectric projects on the Upper Drina with a total investment
volume of approximately 450 million Euros. The projects would install a
total output of up to 250 MW, able to generate around 800 GWh of
electricity per year. 'This equals about 15% of the total generated volume
of the state-owned ERS, and illustrates the enormous significance of the
hydroelectric project Upper Drina,' stressed Haferkamp. 'It is a clear
confirmation of the Southeast European strategy we initiated in 2009.
Because the government decree ensures that water power will be a safe
investment at least for the next 20 years.'
United Energy Group plc
United Energy Group plc is an independent listed energy company. Formed in
2006, the company focused initially on the area of energy production.
During the past two years, UEG underwent substantial redevelopment, and
operates now in the business areas of Energy Consulting, Energy Trading,
and Energy Investments. The company has thereby responded to global market
trends as it seeks to make a significant contribution to the energy supply
sector, and to help meet the growing energy needs worldwide.
Forward-Looking Statements
This communication may contain certain forward-looking statements that
include declarations of intent, strategies and opinions relating to the
future and to the expectations of United Energy Group and its subsidiaries.
Any statement contained herein is based on information available on the
respective day to the management of UEG; and actual events, may vary
depending on the occurrence of future events that may or may not be subject
to the management's control, including risks and uncertainty factors that
may cause the actual outcome to deviate considerably. Such risks and
factors include, without being limited to, ramifications that acquisitions
may have for the company and its capital structure, exploratory findings,
market conditions, the stability of mineral oil and natural gas prices, the
uncertainty factors inherent in the operative business of mineral oil and
natural gas production, unexpected future investment requirements,
competition, statutory provisions, and other factors.
Business Network Marketing- und Verlagsgesellschaft mbH
Corinna Kaspar
Fasanenstr. 47, D-10719 Berlin
Tel. +49 (0) 30 / 81 46 46 00
Fax +49 (0) 30 / 81 46 46 046
E-mail: ir(at)unitedenergy.com
02.08.2010 12:16 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 02.08.2010 - 12:16 Uhr
Sprache: Deutsch
News-ID 31860
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