A local company, Vjetroelektrana Grebak, has started the construction of the 49.5 MW Grebak wind farm located in Nevesinje, some 270 kilometers south-east of Banja Luka, in Bosnia and Herzegovina.

Foreign Investment Promotion Agency (FIPA) expects that the project will generate up to BAM130 million (US$73.1 million) in investment. The project developers currently are in the process of consolidating the necessary permits. 

The project consists of 15 wind turbines, producing 130 GWh of energy per year. It is expected to be operational by mid-2022. 

In April, the Ministry of Energy and Mining of the Republic of Srpska (RS) and local company VE Grebak have signed a concession agreement for the construction and operation of wind farm Grebak near Nevesinje. The 50-year concession was awarded to VE Grebak in February. 

According to the agreement, the concessionaire has to pay one-time fee in the amount of EUR325,000 (USS$355,000), while the concession fee amounts to EUR0.275 cents (US$0.3) per kWh of produced electricity.