On the morning of August 2, 2022, the loan agreement for the Bosnia and Herzegovina Ivovik Wind Power Project was officially signed at the headquarters of Power Construction Overseas Investment Corporation. The heads of Power Construction Overseas Investment Co., Ltd., Siyuan Investment Co., Ltd., and General Technology Group International Co., Ltd. jointly attended the signing ceremony.

Bosnia and Herzegovina Ivovik Wind Power Project

According to reports, the Bosnia and Herzegovina Ivovik Wind Power Project is the first investment project of Power Construction Overseas Investment Corporation to introduce state-owned funds to participate in and adopt an innovative financing model. It is also the first wind power project invested and constructed by a Chinese enterprise in Bosnia and Herzegovina. The list of outcomes of the 2021 China-CEEC Leaders Summit witnessed by President Xi Jinping was also identified as a major national project by the Bosnian government. The project is located in West Bosnia State, Federation of Bosnia and Herzegovina. It will construct and install 20 Chinese-made wind turbine units with a total installed capacity of 84 MW.

The person in charge of Power Construction Overseas Investment Company extended the most sincere thanks to Siyuan Investment and General Technology International for their sincere cooperation and joint progress in the process of project advancement. Since its establishment ten years ago, POWERCHINA has always adhered to strategic leadership, continuously strengthened the construction of core capabilities, actively explored the laws of overseas investment, and promoted the company to achieve high-quality development. The Ivovik project is a good start for the tripartite cooperation. It is hoped that in the future, we will seize opportunities, deepen cooperation, and achieve win-win cooperation in overseas investment and financing.

The person in charge of General Technology Group International Company fully affirmed the great significance of the signing of the loan agreement for the Ivovik project. In today's increasingly fierce international competition, enterprises can achieve mutual benefit and win-win results and common development only by combining their strengths and complementing each other's advantages. I sincerely hope that the three parties can take the Ivovik project as an opportunity to combine their respective industrial advantages and financial resource advantages to carry out broader and higher-level exchanges and cooperation in the field of overseas investment and financing.

The person in charge of Siyuan Investment Co., Ltd. said that the Ivovik project is the foothold for implementing the national strategy, the cornerstone of the tripartite mutual trust and cooperation, and an incubator for promoting financial innovation. Siyuan Investment is willing to take this cooperation as an opportunity to deepen cooperation with Power Construction Overseas Investment Company and General Technology International Company to provide comprehensive investment and financing support and solid financial guarantee for Chinese-funded enterprises to explore overseas markets. Editor/He Yuting