The signing and groundbreaking ceremony of the Ivovik Wind Power Project in Bosnia and Herzegovina was held both at the Beijing headquarters and the project site via video link on Dec 16, Beijing time, marking the official start of construction of POWERCHINA's first new energy investment project in Europe.
It is also the first new energy project on the list of results of the China-CEEC Summit.
In line with the global green and low-carbon energy trend, the new energy business in Bosnia and Herzegovina and throughout Europe has shown great development potential. The start of the construction of the Ivovik wind power project is a very important milestone.
Signing ceremony of the Ivovik Wind Power Project in Bosnia and Herzegovina is held at the Beijing headquarters.
Persons in charge of the project from POWERCHINA's subsidiary companies, including POWERCHINA Resources Ltd., POWERCHINA International Group Ltd., and POWERCHINA Chengdu Engineering Co. Ltd., and from the project partners, including China General Technology China Technology Co. Ltd and Goldwind Science and Technology Co., Ltd., witnessed the signing ceremony.
Ivan Vukadin, prime minister of the Herceg-Bosna cantonal government, Darko Condric, mayor of Livno, and Miho Zrinusic, special representative of the mayor of Tomislavgrad, attended the groundbreaking and ribbon-cutting ceremony.
Sheng Yuming, Secretary of the Party Committee and Chairman of POWERCHINA Resources Ltd., said on behalf of the investors of the project that the Ivovik wind power project, which is highly in line with the Belt and Road initiative and the carbon peak and carbon neutrality goals, is the largest energy project invested and constructed by a Chinese company in Bosnia and Herzegovina, and will effectively promote energy structural transformation and upgrading in Bosnia and Herzegovina.
Groundbreaking ceremony of the Ivovik Wind Power Project in Bosnia and Herzegovina is held at the project site.
In addition, it will further deepen the economic and trade cooperation and friendship between China and Bosnia and Herzegovina, Sheng added.
Ivan Vukadin said in his speech that the Ivovik wind power project is a key project in the power resource development plan of West Bosnia. After completion, it will become the largest local wind farm, providing clean and high-quality power for the country.
The local government will work with the Chinese company to build the project into a model project for the two countries under the Belt and Road initiative, Ivan Vukadin added.
Green power generation technology will be adopted in the project, so that it will promote employment and business prosperity in Livno, and boost economic and social development, said Livno mayor Darko Condric.
Miho Zrinusic, special representative of the mayor of Tomislavgrad, said at the ceremony that Tomislavgrad will benefit from the Ivovik wind power project, and the city government will fully support the construction of the project.
The Ivovik Wind Power Project, located in Livno, Bosnia and Herzegovina, has a total installed capacity of 84 MW and annual on-grid power of around 272 million kWh. With an average annual utilization of 3,234 hours, it is the first franchising energy project in Bosnia and Herzegovina with foreign investors.
POWERCHINA entered the Bosnia and Herzegovina market in 2012. It has five contracted projects there in engineering contracting, two of which are under construction.
