DEH, Bank of Cyprus, Quantum in Balkans energy JV

Greece’s Public Power Corp. (DEH) has approved a memorandum of understanding with the Cyprus-based Quantum Corporation and Bank of Cyprus for the feasibility of the construction and operation of power plants in Bosnia Herzegovina’s Republika Srpska.
Quantum and Bank of Cyprus have proposed to DEH the prospect of cooperation with the objective of investment in two hydroelectric units in Republika Srpska, with total annual capacity of 50MW for the first unit and 180MW electricity for the second unit, as well as option of first refusal for participation up to 50% in a new to-be-built hydroelectric unit of 115MW capacity and annual production of 370GWH.
DEH’s CEO and Chairman Panayiotis Athananasopoulos said with the signing of the accord, the Greek utility will be able to expand and diversify its revenue base.
Quantum Corporation is a Cyprus based company actively involved in energy projects in the Balkans. The company, founded and managed by Athanasios Ktorides, owns the local company Euroinvestment a.d., based in Banja Luka and has five electricity producing plants with total capacity of 1422MW.