69 MW Košava 1 wind farm put into operation in Serbia

MK-Fintel Wind, a joint venture of Italy’s Fintel Energia Spa and Serbia’s MK Group, owned by businessman Miodrag Kostić, has put into operation the 69 MW Košava 1 wind farm near Vršac, Serbia today.

The construction of the Košava 1 wind farm with 20 turbines delivered by Denmark-based Vestas, soaked an investment of EUR 118 million. The wind farm in the feed-in tariff system can produce enough electricity to power 45,000 households.

This is the third and largest wind farm so far to be built under the partnership of MK Group and Fintel Energija, a company listed on the Belgrade Stock Exchange (BELEX).

Fintel Energija CEO Tiziano Giovannetti said at the ceremony that the construction of Košava 2 with 15 turbines has already been launched.

The unveiling today was also attended by Serbian Mining and Energy Minister Aleksandar Antić, Italian Ambassador to Serbia Carlo Lo Cascio, and MK Group President Miodrag Kostić.

I opened today with Minister Of Energy @AAnticBG a new wind farm in Vojvodina by MK Fintel Wind, a perfect example of the fruitful economic cooperation between 🇮🇹 and 🇷🇸! #diplomaziaeconomica @MiningEnergyRS @ItalyinSerbia pic.twitter.com/LdB8jK2Ene

— Carlo Lo Cascio (@lo_cascio1) September 24, 2019

Fintel Energija, owned by Fintel Energia Spa, has majority stakes in MK-Fintel Wind and MK-Fintel Wind Holding, minority owned by MK Group.

At the end of February 2018, MK-Fintel Wind announced that it had secured EUR 81.5 million in lending for the completion of the Košava 1 wind farm.

So far, the companies have opened the 9.9 MW Kula wind farm, Serbia’s first, at the end of 2015, and the 6.6 MW La Piccolina wind farm, in October 2016.

The two wind farms produce enough electricity to power 7,000 households.

The MK-Fintel Wind portfolio includes 13 wind farms with a total planned installed capacity of nearly 1 GW.

The planned capacities include the future Maestrale Ring wind farm, with a planned capacity of some 600 MW, near Sombor in northern Serbia.

Fintel Energija has set up special purpose vehicles (SPV) to develop the Lipar (10 MW), Lipar 2 (10 MW), and Maestrale Ring (572 MW) wind energy projects. The new projects, to be located in Serbia’s province of Vojvodina, will be 100% owned by Fintel Energija, Giovannetti said earlier.