State-owned power utility Elektroprivreda Republike Srpske has decided to sign a contract to build the 60 MW Hrgud wind farm with a group of bidders from Bosnia and Herzegovina, comprising seven companies and a bank. They outbid a consortium of Chinese companies.
The group of bidders, comprising El Promet, Lager, Ventum Gradnja, GP Gradip, Eko-Euro Tim, Vendom, Građevinski institut, and Banja Luka-based Naša Banka, submitted the most economically advantageous bid, according to a decision by Elektroprivreda Republike Srpske (ERS), signed by CEO Luka Petrović.
The utility’s management accepted a recommendation of the public procurement commission for the construction of the Hrgud wind farm with accompanying infrastructure, including access roads, a transmission line, and a substation.
The group of BiH firms received 94.4 points, while the Chinese consortium had 85
The tender was launched on July 20, and two bids were submitted. In addition to the group of bidders from BiH, a bid was also submitted by the SDHS CSI-CEWUD consortium, comprising China Shandong International Economic & Technical Cooperation Group and Cewud Energy Construction Investment.
After evaluation across ten categories, the group of BiH companies was awarded 94.4 points, while the consortium from China scored 85. The two bids were tied on two criteria, with the BiH companies performing better in three categories and the Chinese companies in five.
The winning bidder gained a crucial advantage for its readiness to provide 100% of the project financing, while the Chinese side offered 80%, according to the decision.
The project is valued at EUR 81.9 million
The bid includes a price of BAM 160.1 million (EUR 81.9 million), an execution period of 24 months, a warranty period of 36 months, and a wind farm capacity factor of 43.212%.
The loan interest rate is fixed at 7.79%. The repayment period is 120 months, with a 36-month grace period, a 1.5% loan processing fee, no commitment fee on undisbursed funds, and no credit insurance fee.
The estimated value of the public procurement was BAM 160.1 million.
The Hrgud wind farm project has been under preparation for more than a decade. It was halted in 2023, when Germany suspended financing, but was reactivated late last year.
