Bosnia and Herzegovina-based company Energoinvest, in partnership with Turkish firm Energoin, has secured a BAM 8.42 million (EUR 4.3 million) contract to supply oil-immersed distribution transformers to state-owned power utility Elektroprivreda BiH.
A consortium consisting of Energoinvest and Energoin won an international tender, funded by the European Investment Bank (EIB), for expanding and modernizing the distribution network of Elektroprivreda BiH (EPBiH).
The project holds particular significance because the entire transformer production will be carried out in Bosnia and Herzegovina with the Turkish partner, Energoinvest said.
As a result, the initiative extends far beyond the contract’s financial value, making a tangible contribution to restoring power equipment manufacturing in the country, building local capacity, and strengthening national energy security, the company added.
So far in 2026, Energoinvest has signed contracts worth EUR 15.3 million
According to Energoinvest, the tender drew multiple bids from leading international manufacturers and power sector companies. The consortium’s bid was selected as the most technically and financially favorable.
This deal contributes to an impressive year for Energoinvest, which has already secured nearly BAM 30 million (EUR 15.3 million) in new contracts in 2026 and forged a strategic partnership with Siemens Energy covering the Balkans, Middle East, and Africa.
Of note, in April last year, the company manufactured the first domestic transformers under its brand. The global transformer market is very dynamic, driven by high demand.
Just a month ago, Germany’s SGB-SMIT announced the acquisition of a majority stake in Comel Transformatori in Serbia.
Ustamujić: The result of dedicated work
Energoinvest CEO Mirza Ustamujić stressed that after exporting branded transformers to various markets including Germany, the UK, Spain, Brazil, Greece, Belgium, Lithuania, and Serbia, supplying the domestic market with 100% locally produced units represents a vital milestone.
“Therefore, Made in BiH,” Ustamujić added.
He pointed to nearly BAM 30 million in deals in 2026, as well as to the partnership with Siemens Energy.
“We are proud to rebuild trust across the business community and demonstrate that Energoinvest can once again generate major business, foster domestic industry, and drive the country’s energy development,” Ustamujić said.
Bringing power equipment manufacturing back to BiH remains a cornerstone of Energoinvest’s long-term strategy, the company added.
