HEP Search Strategic Investor for the Power Plant Plomin C

The Croatian Electric Company (HEP) has issued a request of interest tender for a BOT investor for a new coal fired power plant Plomin C (€800 million), located in the Istria region. Construction of the 500 MW plant is expected to begin in Q1/Q2 2013, with completion scheduled for 2015-2017.

Presently, the location is the site of the Plomin B (210 MW) plant, which is a joint-venture with the German RWE Power. Even though RWE is considered to be a front-runner for Plomin C, in 2015, Plomin B will become the sole ownership of HEP and the concessionaire to be awarded Plomin C could also be offered the management of Plomin B.

Plomin C is the largest energy project in Croatia and is expected to produce 17.5% of Croatia’s yearly energy needs, which would result in the reduction of energy imports by double with a yearly savings of €32 million.

The deadline for submission of expressions of interest is 14th September 2012.