Following the earlier agreement, MK Fintel Wind withdraws EUR4.4 million (US$5 million) as its first tranche of an EUR81.5 million bank loan from a pool of banks that includes Erste Group, Erste Bank Serbia, Unicredit Serbia, Zagrebacka Banka and the Development Bank of Austria (OeB). The financing was intended for the first phase of the construction.
The 128.7 MW Kosava wind farm is located in Vojvodina, Serbia, with a 69 MW capacity on the first phase. Twenty wind generators are constructed under the first construction phase, while additional 19 units were installed during the second development stage. With the 20 units of V126-3.45 MW wind turbines, the facility supplies electricity to some 40,000 households. Completion of the first phase is expected in 2019.
Country updates
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July 20, 2018
Vestas to supply turbines for the Kosava I wind facility
MK Fintel Wind has contracted Vestas to equip the Kosava I wind farm with 20 units of V126-3.45 MW turbines. The contract comes with a 12-year service agreement. The wind turbines are expected...
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July 19, 2018
Fintel Energia plans to invest in Kosava wind farm
Fintel Energia Group has expressed its plan to invest 120 million euro ($139.5 million) in the first phase of the construction of the Kosava wind facility. The project is implemented through&nbs...
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June 12, 2018
GGF to provide over US$35 million to wind projects in Serbia
The Green for Growth Fund (GGF) has announced that it has recently invested in two of the first large-scale wind farms in Serbia.
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May 28, 2018
Financial close for largest wind farm in Serbia
Wind Energy Balkan Group (WEBG) has achieved financial close of the 158 MW Dolovo Cibuk I wind farm, located in the north-east of Serbia.
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May 28, 2018
Suez and Itochu plan to start the construction in the spring of 2019
Suez and Itochu plan to start the construction in the spring of 2019. The city government will issue a building permit for the facility by the end of 2018
