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Joint venture aims for affordable prices and enhanced investments in Montenegro and Republika Srpska

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The General Director of Elektroprivreda Republike Srpske, Luka Petrović, announced that the management of the power companies of Republika Srpska and Montenegro has initiated the establishment of a joint company based in Trebinje. The primary objective is to collaborate on new investments that would lead to more affordable electricity prices for citizens. In response, Elektroprivreda Crne Gore (EPCG) confirmed ongoing negotiations for the formation of this joint venture.

According to Petrović, in this collaboration, Elektroprivreda Crne Gore (EPCG) would hold a majority stake of 51%, while Elektroprivreda Republike Srpske (ERS) would hold 49%. The shared vision is to work on new investments, whether within the territory of Republika Srpska or Montenegro.

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The ultimate goal is to achieve more favorable electricity prices for citizens in both regions. Potential joint projects include optimizing the utilization of Bileća Lake waters, constructing solar power plants on the lake, and revitalizing the Buk Bijela hydroelectric plant, which would benefit the Upper Drina hydroenergy system.

Petrović highlighted that in the Upper Drina project, Elektrprivreda Srbije holds a 51% stake, ERS holds 49%, and Montenegro would also benefit from a vast reservoir extending into its territory, excluding the Tara Canyon.

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However, EPCG responded later, emphasizing that negotiations with ERS are still ongoing. They clarified that discussions are underway to determine the optimal structure for joint projects, particularly focusing on the utilization of the energy potential of Bileća Lake. EPCG reaffirmed its commitment to keeping the public informed about all significant aspects of its business operations in a timely manner.

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