Wind Turbine Business Expands in Republika Srpska

Bosnian Wind Turbine Maker Turbina IPD Plans Bourse Listing in 2011

BANJA LUKA, Bosnia, July 22 /PRNewswire-USNewswire/ -- After winning second place in the 'Best International Trade' category at the Energy Innovation Awards in Manchester, England in June of this year, Bosnia's Turbina IPD Ltd, a vertical axis wind turbine patent-holder, announced its plans to list on the Banja Luka Stock Exchange early in 2011 to finance expansion.

"We will seek around 2.0 million euro ($2.5 million)," Turbina IPD CEO Miroslav Tesic said. He said a quarter of Turbina IPD's shares could be floated on the stock exchange.

The company's headquarters are in Kotor Varos, a municipality of Republika Srpska in northern Bosnia. "We will invest in the expansion of our team and in the launch of production of wind turbines, which will be mounted on top of mobile operators' base stations so that these stations get electricity generated by our turbines," Tesic said.

A vertical axis wind turbine uses a hybrid system and can be combined with solar panels. It is easy to manufacture with simple and low-cost materials and easy to transport and build up. It is noiseless, makes no vibrations, uses the wind no matter which direction it blows from, and is safe for birds and people.

"We are ready to launch mass production as we found local firms that will supply us with most of the parts we need, while a smaller part of the job will be done in our company," Tesic said.

The government of Republika Srpska welcomed the planned expansion of the turbine business in the region and stated, "Our goal is to encourage businesses located in RS; we have a very business-friendly governing authority."

This material is circulated by Quinn Gillespie & Associates on behalf of the Republika Srpska, for which QGA is registered as a foreign agent with the U.S. Department of Justice, Washington, D.C., where a registration statement and additional materials are available for public inspection

SOURCE Mr. Gordan Milosevic, Government of the Republika Srpska