NIS oil industry, majority owned by Russia’s Gazprom Neft, communicated there was progress in negotiations about a stake at Plandište wind park to be taken over by Chinese company CEE, Sinteza Invest Group brokerage reported. The Serbian company said estimation of financial aspects of the project was in progress.

For the wind park project in Plandište municipality, located in the northeastern part of the country, the plan is to construct 34 wind generators with a total capacity of 102 MW. Total project value is EUR 160 million, while NIS will provide EUR 23 million. In accordance with the document signed in December 2012 by NIS general director Kirill Kravchenko and Energowind director Goran Novaković, NIS acquired a 50% stake in the project.

The plan is to construct 34 wind generators with a total capacity of 102 MW.

In March, Kravchenko announced a EUR 150 million investment in the project with Chinese partners.

NIS had marked the construction launch in September 2013. The building site was opened by Kravchenko and Serbian then-first vicepremier Aleksandar Vučić, today’s prime minister. The project implementation had been entrusted to company NIS Elektrowind, in which NIS holds a 50% stake. The plan, in Kravchenko’s words at the ceremony, had been to complete the project in 12 months.