January 4, 2026
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Croatia’s Kermas on track to secure new concession for Trusina wind farm

The Government of the Republic of Srpska has drafted a cooperation agreement with Croatian firm Kermas Energija, which is expected to enable the awarding of a concession to build and operate the Trusina wind farm. In late November, the government adopted a decision to annul the public call for awarding the concession, launched in October, due to a lack of bids.

A concession agreement for the 50 MW Trusina wind farm in the municipality of Nevesinje was signed in 2012. However, it was terminated in 2019 after Kermas failed to provide a bank guarantee or make significant progress in implementing the project. The agreement was signed with Eol prvi, a firm owned by Serbia-based Omega plus, but Kermas later acquired a majority stake in the project.

In a statement to Nezavisne, the Ministry of Energy and Mining of the Republic of Srpska explained that the decision to conclude an agreement with Kermas was made in order to avoid arbitration proceedings that the Croatian company had planned to initiate, as well as due to the government’s interest in having a wind farm built at the site.

According to earlier reports, Kermas had planned to seek damages in the amount of BAM 200 million (around EUR 102.3 million).

The concession is expected to be awarded through a negotiated procedure

The agreement is intended to enable the concession to be awarded through a negotiated procedure, in accordance with the Law on Concessions, the newspaper reported.

Besides withdrawing from arbitration, Kermas would also have to implement the project under new technical specifications, as technology has advanced in the meantime, and wind turbines are now produced with significantly higher installed capacities, according to the Government of the Republic of Srpska, one of the two entities constituting Bosnia and Herzegovina.

According to the annulled public call, the estimated investment in the Trusina wind farm was BAM 130 million (EUR 66.5 million), with a projected annual electricity output of around 160 GWh.

The concession was to be awarded for a period of up to 50 years, and the electricity produced would have been sold on the market.

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January 1, 2026
by in News

Croatia’s Kermas on track to secure new concession for Trusina wind farm

The Government of the Republic of Srpska has drafted a cooperation agreement with Croatian firm Kermas Energija, which is expected to enable the awarding of a concession to build and operate the Trusina wind farm. In late November, the government adopted a decision to annul the public call for awarding the concession, launched in October, due to a lack of bids.

A concession agreement for the 50 MW Trusina wind farm in the municipality of Nevesinje was signed in 2012. However, it was terminated in 2019 after Kermas failed to provide a bank guarantee or make significant progress in implementing the project. The agreement was signed with Eol prvi, a firm owned by Serbia-based Omega plus, but Kermas later acquired a majority stake in the project.

In a statement to Nezavisne, the Ministry of Energy and Mining of the Republic of Srpska explained that the decision to conclude an agreement with Kermas was made in order to avoid arbitration proceedings that the Croatian company had planned to initiate, as well as due to the government’s interest in having a wind farm built at the site.

According to earlier reports, Kermas had planned to seek damages in the amount of BAM 200 million (around EUR 102.3 million).

The concession is expected to be awarded through a negotiated procedure

The agreement is intended to enable the concession to be awarded through a negotiated procedure, in accordance with the Law on Concessions, the newspaper reported.

Besides withdrawing from arbitration, Kermas would also have to implement the project under new technical specifications, as technology has advanced in the meantime, and wind turbines are now produced with significantly higher installed capacities, according to the Government of the Republic of Srpska, one of the two entities constituting Bosnia and Herzegovina.

According to the annulled public call, the estimated investment in the Trusina wind farm was BAM 130 million (EUR 66.5 million), with a projected annual electricity output of around 160 GWh.

The concession was to be awarded for a period of up to 50 years, and the electricity produced would have been sold on the market.

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December 2, 2025
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Serbia’s EPS starts trial operation of its first wind park Kostolac

Serbia’s state-owned power utility Elektroprivreda Srbije put the 66 MW Kostolac wind farm into trial operation.

The construction of Kostolac is complete, and Elektroprivreda Srbije’s (EPS) first wind farm has generated its first megawatt-hours, EPS announced.

Upon receiving approval for connecting to the transmission system, the substation was energized and the blades of wind turbine 1 began to spin. It marked the start of the trial operation of the new generation capacity, the company said, and added that the kickoff of the remaining wind turbines is underway.

EPS’s first wind power plant, with 20 generators, is located at sites called Drmno, Petka, Ćirikovac and Klenovnik, at an area of closed open-pit mines of its subsidiary Termoelektrane i kopovi Kostolac (TE-KO Kostolac). It operates coal-fired power plants and open-pit coal mines.

Živković: It is a historic moment for EPS

Closed coal mines are ideal locations for installing wind farms and solar power plants, due to existing infrastructure. The concept has become widespread in Balkan countries.

“This is a historic moment for EPS. In addition to energy from water, coal, and the sun, now the first wind farm is online. This is a big step toward increasing the share of renewable energy and achieving sustainable energy development for EPS and the entire Serbian energy sector,” CEO Dušan Živković underlined.

He pointed out that the wind farm is just the beginning of future intensive development of new green capacities. It is very significant that it was built on the site of an old mining landfill and that the space has been given a completely new, sustainable purpose, he added.

The wind farm is expected to produce 187 million kWh annually

serbia eps wind farm Kostolac trial operation coal mine
Photo: EPS/Zoran Gavrilović

Živković recalled that the construction of the wind farm was a major challenge, but also a real opportunity for experienced engineers and young, new professionals at EPS to gain new knowledge and experience for future projects.

The planned annual production of the wind farm is 187 million kWh, which is enough to supply about 30,000 households with green electricity, according to EPS.

The project is financed by a EUR 110 million loan from Germany’s KfW Development Bank and a EUR 30 million grant from the European Union via the Western Balkans Investment Framework (WBIF), while the company provided a part of the needed funds, EPS said.

Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović said in January 2024, at the signing of an agreement with the EU for the EUR 30 million grant, that it has completed the financing of the project.

According to WBIF’s update from December 2024, the project was valued at EUR 145.1 million. It comprised EUR 81.8 million from a KfW loan and EUR 31 from WBIF in the form of a grant, while EPS provided EUR 32.3 million.

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November 17, 2025
by in News

Global wind installations jump 64% in H1 2025

Global wind power installations have risen by 64% in the first half of 2025 from the same period of last year, according to the latest report from the World Wind Energy Association. It expects 2025 to be a record year for new wind farms.

A total of 72.2 GW of new capacity was added between January and June, following 44.1 GW installed in the first half of the previous year, reads the World Wind Energy Association’s (WWEA) Half-year Report 2025.

By the end of June, total installed wind power capacity reached 1.25 TW, with wind energy now supplying approximately 12% of global electricity demand.

According to the report, the first half of 2025 demonstrates continued momentum and resilience of the global wind power sector.

“Driven by strong growth in China and steady expansion across major markets, wind energy is on course for its strongest year ever. With a record 150 GW expected to be installed in 2025 and a global total surpassing 1.3 TW, wind power continues to play a central role in the world’s renewable energy transformation,” WWEA said.

China continues to lead the global wind power deployment. In the first six months of the year, it installed 51.4 GW, compared to 25.8 GW from the same period of 2024 and 23.8 GW in 2023.

The country’s total capacity is over 600 GW, the report adds.

Five countries recorded more than 1 GW of new installations: India (3.5 GW), the United States (2.1 GW), Germany (1.9 GW), France (1.7 GW), and Brazil (1.3 GW).

According to WWEA President Irfan Mirza, the first half of 2025 was a defining period for the global wind energy sector – not only for its record-breaking growth but for the clarity it provides about the world’s energy direction.

“The addition of over 72 GW of new capacity globally demonstrates the sector’s resilience and the trust that governments, investors, and communities continue to place in wind power as a cornerstone of sustainable progress,” he added.

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October 17, 2025
by in News

50 MW Trusina wind project in BiH gets fresh start

The Ministry of Energy and Mining of the Republic of Srpska has issued a public call for a concession to build and operate the Trusina wind farm in the municipality of Nevesinje, with an installed capacity of up to 50 MW. The move paves the way for reviving one of the largest wind projects in the Republic of Srpska, which has been stalled for years.

The investment is valued at BAM 130 million (EUR 66.5 million), with a projected annual electricity output of about 160 GWh. The new concession procedure was initiated by Sarajevo-based SDL Energy Company.

Wind farm Trusina would generate 160 GWh of electricity per year

The concession can be granted for a period of up to 50 years, and the produced electricity would be sold on the market, according to the public call. If awarded, the contract will include a one-time concession fee of BAM 650,000 (EUR 332,000), as well as BAM 0.0055 (EUR 0.0028) per kWh of electricity produced.

The deadline to submit bids is 30 days from the publication of the call.

The Republic of Srpska is one of the two entities comprising Bosnia and Herzegovina. The other one is called the Federation of BiH.

Challenges from the very beginning

The first concession agreement for the construction of the Trusina wind farm was signed back in 2012. The firm that was granted the concession, called Eol prvi, was founded by Serbia-based Omega plus, but Croatian firm Kermas energija joined the project and subsequently acquired a majority stake in Eol prvi.

However, the concession agreement was terminated in 2019 due to Kermas’ failure to provide a bank guarantee or make any significant progress in implementing the project.

The first concession was scrapped in 2019

Kermas reportedly threatened arbitration against Bosnia and Herzegovina, claiming BAM 200 million (EUR 102.3 million) in damages. However, in May this year, it expressed willingness to resolve the matter amicably, eKapija reported, citing information from the Office of the Attorney General of BiH.

Another dispute involved a EUR 38.2 million lawsuit filed by Omega plus against Kermas. The lawsuit concerned lost profits from the unrealized project, as well as issues related to the transfer of ownership in Eol prvi.

Initially, Omega was awarded BAM 21.1 million (EUR 10.8 million), but the ruling was later overturned.

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September 9, 2025
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Abu Dhabi’s Mubadala buys into renewables developer Rezolv Energy

Mubadala Investment Company, a sovereign investment fund from Abu Dhabi, is acquiring a stake in Rezolv Energy, a major renewable energy investor in Romania, which is developing the largest solar park in Europe.

Mubadala is setting up a joint venture with Rezolv Energy’s owner, sustainable infrastructure investment fund Actis, for joint control of the firm, whose ongoing projects in the country exceed 2 GW, according to a report by Profit.ro.

The Mubadala-Actis joint venture, which has received the green light from the European Commission, will be created through the purchase of shares and securities.

Mubadala, with assets under management of USD 300 billion as of the end of 2024, is wholly owned by the government of Abu Dhabi, the United Arab Emirates (UAE).

The transaction has been cleared by the European Commission

Rezolv Energy’s ongoing projects in Romania include the construction of a photovoltaic park with an installed capacity of 1,044 MW in Arad County, called Dama Solar. Once in operation, it is expected to be the largest solar park in Europe. The investment envisages a battery energy storage system (BESS) with 500 MW of operating power.

Rezolv Energy is developing the 1,044 MW Dama Solar project and over 1 GW of wind farms in Romania

Its portfolio in Romania also includes a 600 MW wind project in Constanța county and a 461 MW wind park in Buzău county. The company has already signed a grid connection agreement for the facility in Constanța.

The company won four contracts for difference (CfD), for a total capacity of 951.2 MW, in the first two auctions organized by the Romanian Ministry of Energy, according to Profit.ro.

Rezolv Energy was launched by Actis in 2022, with an initial investment of EUR 500 million. It is now active in Romania, Croatia, the Czech Republic, Luxembourg, Bulgaria, and Slovakia, with a total portfolio of 2.5 GW of solar and wind projects.

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September 4, 2025
by in News

Abu Dhabi’s Mubadala buys into Romanian renewables developer Rezolv Energy

Mubadala Investment Company, a sovereign investment fund from Abu Dhabi, is acquiring a stake in Rezolv Energy, a major renewable energy investor in Romania, which is developing the largest solar park in Europe.

Mubadala is setting up a joint venture with Rezolv Energy’s owner, sustainable infrastructure investment fund Actis, for joint control of the Romanian firm, whose ongoing projects in the country exceed 2 GW, according to a report by Profit.ro.

The Mubadala-Actis joint venture, which has received the green light from the European Commission, will be created through the purchase of shares and securities.

Mubadala, with assets under management of USD 300 billion as of the end of 2024, is wholly owned by the government of Abu Dhabi, the United Arab Emirates (UAE).

The transaction has been cleared by the European Commission

Rezolv Energy’s ongoing projects in Romania include the construction of a photovoltaic park with an installed capacity of 1,044 MW in Arad County, called Dama Solar. Once in operation, it is expected to be the largest solar park in Europe. The investment envisages a battery energy storage system (BESS) with 500 MW of operating power.

Rezolv Energy is developing the 1,044 MW Dama Solar project and over 1 GW of wind farms in Romania

Its portfolio in Romania also includes a 600 MW wind project in Constanța county and a 461 MW wind park in Buzău county. The company has already signed a grid connection agreement for the facility in Constanța.

The company won four contracts for difference (CfD), for a total capacity of 951.2 MW, in the first two auctions organized by the Romanian Ministry of Energy, according to Profit.ro.

Rezolv Energy was launched by Actis in 2022, with an initial investment of EUR 500 million. It is now active in Romania, Croatia, the Czech Republic, Luxembourg, Bulgaria, and Slovakia, with a total portfolio of 2.5 GW of solar and wind projects.

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August 27, 2025
by in News

Montenegro’s power utility gets EUR 25 million loan to expand Gvozd wind farm

Montenegrin state-owned power utility Elektroprivreda Crne Gore (EPCG) said it signed a EUR 25 million loan contract with the European Bank for Reconstruction and Development (EBRD) for expanding the Gvozd wind farm to 75.6 MW. Once fully operational, it will be the largest wind farm in Montenegro.

The Gvozd 2 project involves the installation of three additional wind turbines, with a combined capacity of 21 MW. It will increase the wind farm’s total projected annual production to over 210 GWh, enough to cover the needs of about 36,000 households and reduce CO2 emissions by almost 137,000 tons a year, EPCG said following the signing of the loan agreement.

The expansion project involves three additional wind turbines with a combined capacity of 21 MW

An EUR 82 million loan for the first, 54.6 MW phase of the wind farm, including the grid connection infrastructure, was signed with the EBRD in June 2023. Gvozd will be EPCG’s first large-scale power generation facility built in more than 40 years.

Construction on the first phase, featuring eight turbines, began in November 2024. EPCG expects the power plant to enter trial operation by the end of this year, with a projected annual electricity output of 150 GWh.

Construction on the first, 54.6 MW phase of wind farm Gvozd was launched in late 2024

Commissioning of the full 75 MW capacity is expected by the end of 2026, according to a press release from the EBRD.

A key step in Montenegro’s energy transition

Milutin Đukanović, President of EPCG’s Board of Directors, described the expansion of Gvozd as a key step in Montenegro’s energy transition. In the press release, EPCG stated that the wind park would significantly contribute to achieving the European goal to produce electricity exclusively from clean sources by 2050 at the latest.

Minister of Energy and Mining Admir Šahmanović noted that the Gvozd project would strengthen Montenegro’s energy security, reduce CO2 emissions, and pave the way for sustainable development.

Francesco Corbo, the EBRD’s Regional Head of Energy for the Western Balkans and Croatia, recalled that the bank, through its Renewable Energy Market Accelerator (REMA) program, helped the Montenegrin authorities organize the country’s first renewable energy auction, for solar projects totaling 250 MW.

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