Fintel Energia Group has signed a strategic partnership agreement with China’s Windey Energy Technology Group, securing support for its wind projects in Serbia.
The agreement establishes Windey’s direct equity investments in Fintel Energia Group’s Serbian project pipeline, either independently or alongside other major Chinese institutional investors identified by Windey and approved by Italy’s Fintel.
“I believe this is particularly significant news for Serbia, not only because of the scale of the investments contemplated under the agreement, but above all because of the institutional and diplomatic commitments undertaken by our Chinese partner,” said Tiziano Giovannetti, CEO of Fintel Energia Group.
The cooperation includes joint investments in modular AI data centers
The cooperation will focus on Fintel’s 854 MW Maestrale Ring wind project and extend to other projects in its portfolio, including about 110 MW of wind capacity currently under construction, it said.
It will also include joint investments in modular artificial intelligence (AI) data centers to be installed in the vicinity of Fintel’s substations, the company added.
The projects under construction are Košava 2 (68.4 MW), Kula 2 (10 MW), Kula 3 (10 MW), Kula 4 (10 MW), and Ram 10 (MW). Fintel in Serbia already operates three wind farms: Kula (9.9 MW), La Piccolina (6.6 MW), and Košava 1 (69 MW).
Windey agreed to provide institutional and governmental support
The core of the agreement is Windey’s binding commitment to provide institutional and governmental support, including engagement through Chinese diplomatic channels, to help accelerate licensing procedures for Fintel’s projects, according to the press release.
“Given China’s privileged institutional relationship with Serbia and the high-level governmental channels supporting major Chinese investments in the country, Windey’s involvement is now particularly significant in overcoming the administrative obstacles currently delaying our projects,” Fintel said.
The deal was inked at WindEnergy conference in Hamburg
The deal with Windey, one of China’s leading state-owned and publicly listed wind turbine manufacturers and energy investors, was inked at the WindEnergy conference in Hamburg, Germany. It was signed by Windey CEO Cheng Chenguang and Fintel Energia Group CEO Tiziano Giovannetti.
Fintel had already selected Windey as the wind turbine supplier for the Maestrale Ring project and for the 110 MW of wind capacity under construction.
In 2021, Fintel launched the 660 MW Agrosolar Kula project in Serbia, together with MK Group, for the simultaneous production of agricultural crops and solar power.
