The combined value for the project is estimated to be E3.5 billion and the winner of the bid will partner with the Bosnian government for the development of the eight new facilities.

The eight plants include four hydroelectric units and four heating plants. Their total capacity is expected to be around 2,000MW with construction expected to end by 2013.

Plant ownership will be held by the Bosnian government and the successful bidder will have a 50% stake in the venture. The company will also help to operate the plants.

Other bidders include EnBW, Austrian Power and Environment Technology and KazTransGas.