SARAJEVO, Oct 28 (ABC): The first of the planned 20 turbines at the Ivovik wind farm has been assembled, the Foreign Investment Promotion Agency (FIPA) of Bosnia and Herzegovina (BiH) said on Thursday. The wind farm near Livno, 190 km west of Sarajevo, is the first major Chinese direct investment in BiH, FIPA said in a press release. So far, Chinese companies have participated as contractors in infrastructure projects in BiH.
Xiao Xin, chief executive officer (CEO) of the Ivovik wind farm, a subsidiary of PowerChina Resources Ltd., said that the wind farm will have a total installed capacity of 84 megawatts and that the project is worth 133 million euros (132.65 million U.S. dollars). So far, the Ve Ivovik company has invested 22 million euros and hired 60 workers from BiH, Xiao said, adding that up to a hundred local workers will eventually be employed at the site.
