Bosnia and Herzegovina’s state-owned power company ERS selected an eight-member consortium led by El Promet to build and finance the Hrgud wind farm, choosing its 81.9 million euros construction offer despite a lower-priced rival bid. The price excludes value-added tax, and the consortium’s financing covers the full investment, so ERS would not need to procure part of the funding separately.
The consortium is headed by El Promet of Banja Luka 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. The financing also carries a 1.5% processing charge, with no additional charges on undrawn funds or credit insurance.
The competing group, China Shandong International Economic & Technical Cooperation Group and CEMJO Energy Construction Investment, offered a construction price of 81.6 million euros, excluding value-added tax. Its financial proposal covered 80% of the investment, with a variable interest rate linked to six-month EURIBOR. ERS therefore selected the fully financed offer, although its construction price was higher.
Planned on a plateau near Berkovici, the wind farm’s current design includes 10 turbines, access roads, a substation and a transmission line. The project is estimated to generate 160 GWh annually, with construction 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Development stalled in 2023 after German financial support was withdrawn. ERS relaunched the project in December 2025, and the consortium selection is subject to a mandatory 15-day notification period and any successful procurement challenge.
