This strategic move comes after Petrol purchased the shares of seven minority shareholders, who collectively held approximately 0.25% of the company, making Petrol now the 100% owner.
The shareholders who sold their stakes were a mix of individual investors and one corporate entity, the Trading and Services Company Intra. Petrol Power Sarajevo, a subsidiary of Petrol in Bosnia and Herzegovina, specializes in the production of electricity. According to data from FIA and reported by Indikator.ba, the company recorded a business value of around 5.3 million KM last year and a financial result of approximately 2.75 million KM.
Despite its operational success, Petrol Power’s capital at the end of 2023 was negative, standing at -1.13 million KM. This was due to assets valued at 16.2 million KM and liabilities amounting to 17.3 million KM. The company employed four workers.
Petrol Power manages four small hydroelectric plants in the municipality of Fojnica, located on the Jezernica (MHE Jezernica and MHE Mujakovići) and Kozica (MHE Majdan and MHE Botun) rivers, with a total installed capacity of 6.9 MW and an annual production of about 15 GWh. The company was originally formed through the acquisition of Intrade Energija Sarajevo.
