Turks give up investment in Kupinovo - Germany's Wolfplus resumes hydroelectric power station construction

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President of the Temporary Body of the Pecinci municipality Sava Cojcic has had a meeting with Jean Wolf, the director of the Wolfplus company from Munich with which Pecinci entered into a strategic partnership to develop the energy potential by means of of direct investments in hydropower facilities.

According to a release on the official municipal website, the Turkish company with which the Pecinci municipality signed a Memorandum of Understanding in May 2013 has given up this project for investments in some bigger electricity generation projects.

- To my great pleasure, the construction of hydroelectric power station in our municipality can be resumed in a very serious manner as Jean Wolf has already made the financial plan for the project - said Cojcic.

He stressed that the local self-government would be involved in all phases of implementation, adding that the municipal administration was going to be maximally efficient at providing necessary documentation.

Ekoenergoinzenjering CEO Zoran Mojic pointed out that preliminary talks with most of the competent ministries, public companies and institutes about the implementation of this project had already been completed, adding that the project enjoyed an absolute support from the Government. He concluded that he had no doubt that the investment would be implemented.

- With the arrival of Mr. Wolf, plans for this project are becoming more concrete and we hope to be able to start the implementation of this 200-250 million euros worth of investment within the next few weeks. It is one of the largest investments in Serbia, and the hydroelectric power station in Kupinovo will be the first such facility built in Serbia after 30 or 40 years - said Mojic.

New jobs and the possibility of hiring adequately educated local people, between 70 and 100 of them, are the greatest benefits of this project for the municipality of Pecinci, while additional workers should be hired to maintain the hydroelectric power station, control embankments, water flow, etc. It is also important to mention that Pecinci would have the right to 3 percent of the generated electricity.