Bosnian state-controlled power producer Elektroprivreda BiH said it will soon start erecting the 15 wind turbines of the future 48 MW Podvelezje wind farm near the southern town of Mostar.

Elektroprivreda BiH (EPBiH) has completed works on the construction of a 110/30 kV transformer station, medium-voltage cable network and telecommunications network for the future needs of the facility, and is now awaiting a construction permit for the foundations of the wind turbines, the company said in a statement quoted by SEENews.com.

EPBiH has signed a 30-year concession contract for the project with the government of Bosnia’s Herzegovina-Neretva Canton. The project will be financed by a loan from German development bank KfW and own funding.

According to earlier information by EPBoH, the KfW loan will be in the amount of 65 million euro ($71 million), whereas EPBiH will invest 3 million euro. The estimated annual production of the wind farm is of 130 GWh.