ETMax has signed a 50-year concession to develop and operate a 500 MW solar portfolio in the municipality of Nevesinje in Bosnia and Herzegovina.

Before signing the concession contract, the concessionaire paid a one-time fee in the amount of BAM7 million (US$3.9 million) to the budget of Republika Srpska (RS). According to the terms of the contract, the concessionaire will pay a concession fee to the RS budget of BAM 0.0055 (US$ 0.00307 million) per kilowatt hour following the completion of the solar power plant, with 95% going to the Nevesinje municipality's budget. 

The Etmax firm intends to build a facility in Nevesinje in 2023 for the production of a portion of the machinery for power plants that would produce the building blocks for the solar park.