Bosnia and Herzegovina’s state-owned power company ERS has selected an eight-member consortium led by El Promet to build and finance the Hrgud wind farm. The winning offer puts the construction price at 81.9 million euros, excluding value-added tax, and covers the full investment. ERS chose it over a lower construction bid because the financing means it will not have to arrange part of the funding separately.
The consortium is headed by Banja Luka-based El Promet and includes Lager, Ventum Gradnja, GP Gradip, Gradjevinski institut, Eko-Euro Tim, Vendom and Nasa Banka. Its proposed loan has a fixed annual interest rate of 7.79%, a 10-year repayment period and a three-year grace period. A 1.5% processing charge applies, with no additional charges for undrawn funds or credit insurance.
The rival bid came from a consortium of China Shandong International Economic & Technical Cooperation Group and CEMJO Energy Construction Investment. It offered to build the wind farm for 81.6 million euros, excluding value-added tax, while its financing proposal covered 80% of the investment. The proposed rate was variable and linked to six-month EURIBOR, giving ERS a different financing structure and interest-rate risk profile from the selected offer.
Project design and procurement
The wind farm is planned for a plateau near Berkovici, with 10 turbines, access roads, a substation and a transmission line. It is expected to generate 160 GWh a year, and construction is scheduled to take 24 months. An earlier design envisaged 16 turbines and a capacity of 48 MW.
Development stalled in 2023 after German financial support was withdrawn. In December 2025, ERS reopened procurement for the project.
The selection is subject to a mandatory 15-day notification period and any successful challenge to the procurement process.
