MK Fintel Wind to start constructing wind farm in Vrsac

Serbia’s MK Fintel Wind, a joint venture of Serbian vertically integrated conglomerate MK Group and Italy’s Fintel Energia Group, said on Monday it plans to officially start the construction of its third wind farm on June 14.

The wind farm, named Kosava, will represent the largest renewable energy investment in Serbia so far, MK Fintel Wind said in a statement. 

Last month, MK Fintel Wind said it aims to raise 60 million euro ($74.8 million) through an initial public offering (IPO) on the Belgrade Stock Exchange that will be invested in the construction of the 117 MW Kosava wind farm, located near Vrsac, in northern Serbia.

The company said in October it plans to invest 50 million euro in the first phase of the construction of the Kosava wind farm. The total investment in the project is estimated at 124 million euro and its construction is expected to be completed in 2019.

The ceremonial start of construction was attended by Aleksandar Antic, minister of mining and energy, Tiziano Giovanetti, CEO of Fintel Energia Spa and MK Fintel Wind and Jelena Galić, Chairwoman of the Executive Board of AIK Bank.

MK Fintel Wind, set up in 2007, is one of the first companies in Serbia which produces “green energy” using wind turbines. The company, a 46/54 joint venture between MK Group and Fintel Energia Group, was set up in 2008 and already operates two wind farm in Serbia, with a combined installed capacity of 16.5 MW.

(Renewables Now,  eKapija, 12.06.2017)



This post is also available in: Italiano

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