Italian companies plan to build hydroelectric power plants in Belarus

The Italian companies are planning to build a unique hydroelectric power station in Belarus within a year, the head of Finest S.p.A. Dr Eros Goi told reporters.

According to Dr Eros Goi, it will take six months to prepare the necessary documents. Construction operations will take a year. If the investment agreement is signed this week, an advanced hydroelectric power plant can be built on the Neman River already in 2014. "The construction of a hydroelectric power station with the use of conventional technologies usually takes two to three years. With the use of our technology the project will be completed within a year,” said Dr Eros Goi.

The capacity of the hydroelectric power plant on the Neman River will be 45MW. It will be environmentally friendly; all facilities will be located underwater. The hydroelectric power plant will produce electricity two times as much as compared with other similar objects.

Construction of a hydroelectric power plant on the Neman River is a pilot project of the Italian investor in Belarus. The company also plans to build power plants on the Western Dvina and Dnieper Rivers.

According to the head of the company, Belarus is of interest for the Italian investor due to its water resources and opportunities to implement projects of the kind.

The total investment is expected to reach €110 million. The Italian company PVB Group intends to build several hydro power plants in Belarus, on its largest rivers - the Dnieper, Western Dvina, and the Neman. According to the Italian experts, advanced stations on such rivers can generate up to 1000MW.

Representatives of the Italian companies Finest S.p.A., PVB Group and Energy T.I.EST presented an investment project of a hydroelectric power plant on the Neman River in Grodno Oblast on 22 April. Partaking in the event on Belarus’ behalf were heads of the State Science and Technology Committee, the Energy Ministry, the Grodno Oblast Executive Committee and other stakeholders.

PVB is an integrated group of companies operating in the oil sector, renewable energy, industrial design, etc. The company has €1 billion in the authorized fund and more than €2 billion in assets. The Italian company is currently implementing approximately 30 projects in energy: 14 in Bulgaria, 7 in Romania and 7 in Italy.