| Ugljevik |
Construction and operation of the “Ugljevik 3” Thermal Power Plant |
"Comsar Energy Republika Srpska" d.o.o. Banja Luka |
Concession agreement |
BAM 1.061.112.648 |
31.12.2013. |
GAS-RES / COMSAR ENERGY GROUP LIMITED, a company owned by Rashid Sardarov / RITE "Ugljevik" a.d. Ugljevik |
Republika Srpska Government / "Comsar Energy Republika Srpska" d.o.o. Banja Luka |
N/A |
A one-off concession fee of BAM 4,507,888 was paid. The thermal power plant was not built. The Government of Republika Srpska is negotiating the buyout of the concession from the concessionaire. The Republika Srpska Concessions Commission cited the pandemic, the search for a partner, and work on certain project phases as reasons for the delay. |
| Ugljevik |
Coal exploitation at the “Ugljevik East 2” deposit |
"Comsar Energy Republika Srpska" d.o.o. Banja Luka |
Concession agreement |
BAM 444,161,763 |
30.7.2013. |
GAS-RES / COMSAR ENERGY GROUP LIMITED, a company owned by Rashid Sardarov / RITE "Ugljevik" a.d. Ugljevik |
Republika Srpska Government / "Comsar Energy Republika Srpska" d.o.o. Banja Luka |
N/A |
A one-off concession fee of BAM 2,623,488 was paid.
No coal extraction has taken place. The Government of Republika Srpska is negotiating the buyout of the concession. The Republika Srpska Concessions Commission cited the pandemic, the search for a partner, and work on certain project phases as reasons for the delay. |
| Ugljevik |
Limestone extraction at the “Baljak” deposit |
"Comsar Energy Republika Srpska" d.o.o. Banja Luka |
Concession agreement |
BAM 5,980,170 |
22.3.2016. |
GAS-RES / COMSAR ENERGY GROUP LIMITED, a company owned by Rashid Sardarov / RITE "Ugljevik" a.d. Ugljevik |
Republika Srpska Government / "Comsar Energy Republika Srpska" d.o.o. Banja Luka |
N/A |
A one-off concession fee of BAM 668,753 was paid.
No coal extraction has taken place. The Government of Republika Srpska is negotiating the buyout of the concession. The Republika Srpska Concessions Commission states that the project is directly linked to the construction of the thermal power plant, which was never built. |
| Ugljevik / Lopare |
Coal extraction at the “Delići and Peljave – Tobut” deposit |
"Comsar Energy Republika Srpska" d.o.o. Banja Luka |
Concession agreement |
BAM 265,128,155 |
6.11.2014. |
GAS-RES / COMSAR ENERGY GROUP LIMITED, a company owned by Rashid Sardarov / RITE "Ugljevik" a.d. Ugljevik |
Republika Srpska Government / "Comsar Energy Republika Srpska" d.o.o. Banja Luka |
N/A |
A one-off concession fee of BAM 537,059 was paid. The thermal power plant was not built. The Republika Srpska Concessions Commission states that the concessionaire carried out certain activities, including preparing a study on the classification and categorisation of reserves. The COVID-19 pandemic is cited as a factor that affected these activities. The Government of Republika Srpska is negotiating the buyout of the concession rights. |
| Rudo |
Construction and operation of the HPP “Mrsovo” |
„Obnovljivi izvori energije“ d.o.o. Ljubinje |
Concession agreement |
BAM 188,544,996 |
29.11.2012. |
Mixed holding "Elektroprivreda Republike Srpske" |
Republika Srpska Government / "Comsar Energy Hidro" d.o.o. Banja Luka |
N/A |
The concession was awarded to the company Comsar Energy Hydro, which paid a one-off concession fee of BAM 123,750. There are no signs of any activity on the site. The HPP was not built, and the concession-holding company was sold to “Obnovljivi izvori energije – JP Elektroprivreda Republike Srpske” for BAM 68.6 million. |
| Rudo |
Extraction of Varda construction stone, Rudo |
„Obnovljivi izvori energije“ d.o.o. Ljubinje |
Concession agreement |
3.366.824 |
22.4.2015. |
Mixed holding "Elektroprivreda Republike Srpske" |
Republika Srpska Government / Comsar Energy Hydro d.o.o. Banja Luka |
BAM 101,005 |
The concession was awarded to the company Comsar Energy Hydro, which paid a one-off concession fee of BAM 101,005. No stone extraction has taken place. The concession-holding company was sold to Obnovljivi izvori energije – JP Elektroprivreda Republike Srpske for BAM 68.6 million.
The project was linked to the construction of the Mrsovo HPP, which was never built. |
| Kalinovik |
Construction and operation of the “Jezernica” hydropower system on the Jezernica River Basin |
„Obnovljivi izvori energije“ d.o.o. Ljubinje |
Concession agreement |
BAM 15,646,640 |
27.11.2015. |
Mixed holding "Elektroprivreda Republike Srpske" |
"Hidro Power Group" d.o.o. Banja Luka / Republika Srpska Government |
BAM 126,000 (by December 31, 2018) |
Koncesiju je preduzeće "Hydro Power Group" prodalo kompaniji "Obnovljivi izvori energije".
U 2024. godini nije bilo značajnih aktivnosti na realizaciji projekta navodi se u Izvještaju o radu Komisije za koncesije. |
| Banja Luka |
Construction of an autonomous liquid petroleum gas (LPG) supply system in the City of Banja Luka |
„Gazservis RS" d.o.o. Banja Luka |
Concession agreement |
162.000.000 |
19.9.2012. |
"TEPLOGAZSERVISPROEKT OVERSIZ" Moscow |
„Teplogazservisproekt Oversiz" Moscow / Republika Srpska Government |
N/A |
A one-off concession fee of BAM 190,000 was paid. According to the 2024 report of the Republika Srpska Concessions Commission, in 2013 the concession was transferred to the company “Gazservis RS” d.o.o. Banja Luka. The main contract has been amended on several occasions, with changes relating to the definition of bank guarantees and the extension of the preparatory period. The concessionaire did not submit a report for 2024 and has not commenced commercial operations. |
| Foča, Kalinovik, Čajniče i Novo Goražde |
Construction of four HPPs on the Bistrica and Janjina Rivers |
Hidroelektrane "Bistrica" d.o.o. Foča |
Concession agreement |
BAM 106,000,000 |
30.8.2006. |
"Hidroelektrane na Drini" a.d. Višegrad |
"Elektrodistribucija" a.d. Pale/ Republika Srpska Government |
N/A |
The concession was initially awarded to Elektrodistribucija Pale, after which Kaldera became a co-owner, followed by the entry of the Czech company Energo Bosna a.s. as a third partner. The company Hidroelektrane “Bistrica” is now owned by ZP “Hidrelektrane na Drini” a.d. Višegrad, which purchased it for BAM 20,767,276. The company is operating at a loss. A concession fee of BAM 112,750 was paid. |
| Brod |
Shareholding company “Rafinerija nafte Brod” a.d. |
AO NJEFTEGAZINKOR Moscow |
Share sale agreement |
BAM 1,457,657,000 (for both refineries and the company) |
2.2.2007 |
"Njeftegazinkor" Moscow |
AO "Njeftegazinkor" Moscow and Republika Srpska Government |
At least BAM 508,508,000 |
In 2024, “Rafinerija nafte Brod” employed 311 people, compared to 1,330 workers in 2007, when the company was privatised. In the same year, the company’s accumulated loss stood at BAM 882,928,186. Following the 2018 fire, crude oil processing was completely halted, and operations are now based on gas resale with Croatia. Russian stakeholders provide annual guarantees to fund the refinery’s operations and have stated that they do not intend to liquidate the company in the current year. |
| Modriča |
Shareholding company “Rafinerija ulja Modriča” |
AO "NJEFTEGAZINKOR" Moskva |
Share sale agreement |
BAM 1,457,657,000 (for both refineries and the company) |
2.2.2007 |
Njeftegazinkor Moscow |
AO "Njeftegazinkor" Moscow and Republika Srpska Government |
N/A |
Over the past 10 years, oil refinery “Modriča” has experienced a significant decline in revenue and workforce. In 2014, the refinery employed 521 people, compared to 187 workers a decade later. |
| Banja Luka |
Construction of the Vrbas Hydropower System (HPP “Krupa” and HPP “Banjaluka Niska”) |
"HES Vrbas" a.d. Banja Luka |
Concession agreement |
N/A |
2004. |
VIADUCT d.o.o. Portorž and GRAĐEVINAR GP d.o.o. Kraljevo (Rodoljub Vujičić) |
HES Vrbas / Republika Srpska Government |
N/A |
The Slovenian company Viaduct initiated international arbitration after the Government of Republika Srpska granted an additional concession for the construction of a small hydropower plant near the planned HPPs.
In 2022, a Washington court ruled that the Government was obliged to pay BAM 90 million. As the Government did not make timely payment, the debt had grown to over BAM 110 million by 2025 due to accrued interest. Consequently, in the summer of 2025, the High Representative in Bosnia and Herzegovina, Christian Schmidt, imposed a decision allowing the debt of BAM 110,688,333 to be paid to the Slovenian company. The funds were taken from toll revenues allocated to Republika Srpska. |
| Nevesinje |
Construction and operation of the Trusina Wind Farm |
EOL PRVI d.o.o. |
Concession agreement |
BAM 150,000,000 |
19.10.2012. |
"Kermas Energija" d.o.o. Zagreb
Opština Nevesinje |
EOL PRVI/ RS Government |
N/A |
The Government of Republika Srpska unilaterally terminated the concession agreement in March 2019. In March 2018, the Energy Regulatory Commission denied the permit for the construction of the wind farm. In its 2018 report, the Concessions Commission stated that the investor had failed to meet concession obligations and had not submitted the required bank guarantee. |
| Gacko |
Construction of the Gacko 2 Thermal Power Plant |
ČEZ a.s. Prague and "Elektroprivreda Republike Srpske" |
Implementation agreement |
BAM 2,700,000,000 |
16.5.2007. |
Joint venture “Nove elektrane Republike Srpske” |
ČEZ a.s. Prague and "Elektroprivreda Republike Srpske" |
|
The project was never implemented because ČEZ filed a lawsuit against Elektroprivreda Republike Srpske for breach of contract. Specifically, Elektroprivreda failed to contribute the power plant and coal mine to the joint venture Nova elektrana Republike Srpske. International arbitration proceedings was initiated in 2009 and concluded in 2014. The Czech investor stated that, under the arbitral award, Elektroprivreda Republike Srpske was required to pay approximately 15 million BAM, along with guarantees. ČEZ also said that the project’s construction permit was uncertain, which led the company to propose termination of the contract. |
| Tuzla |
Construction of Block 7 of the Tuzla Thermal Power Plant |
Chinese consortium led by China Gezhouba Group Company Ltd, with China Energy Engineering Group Guangdong Electric Power Design Institute Co. Ltd as a consortium member |
Engineering, Procurement, and Construction (EPC) Agreement |
BAM 1,802,685,202 |
27.8.2014. |
"Elektroprivreda BiH" d.d. Sarajevo |
“Elektroprivreda BiH” and the Chinese consortium |
BAM 100,509,170 |
The construction of the replacement Block 7 of the Tuzla Thermal Power Plant was long promoted as the largest energy project in the Federation of Bosnia and Herzegovina, intended to secure its energy supply.
Work on the investment began in 2008. Over the following years, Elektroprivreda BiH sought a strategic partner, eventually succeeding in 2014 with a Chinese consortium. The project was initially estimated at BAM 1.8 billion, including a BAM 1.2 billion loan from a Chinese bank, with the remainder to be financed through domestic bank loans and Elektroprivreda’s own funds. Meanwhile, the global energy market increasingly shifted towards renewable sources, which ultimately led to the project’s suspension. Specifically, the Chinese consortium responsible for procuring key equipment faced cancelled deliveries from American General Electric for quiting the production of coal-fulled facilities. In December 2023, Elektroprivreda terminated both the EPC contract and the loan agreement. The following year, it returned the advance payment of over BAM 211 million. Key project documents related to financing have been classified as “business secrets”, making it impossible to confirm exactly how much money was ultimately spent. |
