China’s power-generation behemoth, Dongfang Electric Corp, has plugged into the underbelly of the European energy grid with a deal to build a new thermal plant drawing on Bosnia’s rich coal veins.
Dongfang’s Balkan partner, the Serb-run, UK-headquartered Energy Financing Team (EFT), has turned to the China Development Bank about underwriting 85 per cent of the three-year project costing just over €500m.
“Negotiations for the financing are in the final stages, and we expect to achieve a financial close soon,” Nenad Savic, EFT’s communications chief, told beyondbrics this week. The other 15 per cent would come from EFT’s own capital.
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