Powerchina Resources sells majority stake in Bosnia Ivovik wind farm

The government of Bosnia and Herzegovina's Canton 10 has approved plans by Sinohydro (Hong Kong) Holding Ltd, a unit of China's Powerchina Resources, to sell its 51 percent stake in local VE Ivovik, the owner of the Ivovik wind farm, to Luxembourg-based Ivovik Wind Power.

The other shareholders in the farm are CNTIC Capital, a Hong-Kong based unit of China National Technical Import & Export Corporation, with a 39 percent stake and individual investor Ekrem Nanic with a 10 percent stake.

The EUR 130 million wind farm will have a total installed capacity of 84 MW and will produce 236.6 GWh of electricity per year. Its construction began in December 2021 and is being built between the Tomislavgrad municipality and the town of Livno.