Renewables

Fintel Energija unveils project to build Europe’s largest onshore wind farm in Serbia

Photo: Pixabay

Published

February 5, 2019

Country

Comments

comments icon

1

Share

Published:

February 5, 2019

Country:

Comments:

comments icon

1

Share

Fintel Energija, the sole renewable energy company listed on the Belgrade Stock Exchange (BELEX), has adopted a decision to launch projects to build three new wind farms in Serbia. The 572 MW Maestrale Ring will be the largest onshore wind farm under construction on the entire European continent, the company said.

Fintel Energija, wholly owned by Italy’s Fintel Energia Group, 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, said CEO Tiziano Giovannetti, according to reports.

The projects will fast-track Serbia’s energy transition from fossil fuels to clean energy, according to Giovannetti.

The decision on the new projects will boost the installed capacity of the company’s projects under development from 352 MW to 994 MW, which will make Fintel Energija one of top European wind project developers, said Giovannetti.

The company recalled that it successfully completed its initial public offering (IPO) and started trading on BELEX last year.

Fintel Energija has majority stakes in MK-Fintel Wind and MK-Fintel Wind Holding, its joint ventures with Serbian agribusiness-to-banking company MK Group, owned by businessman Miodrag Kostić.

Construction of Košava 1 wind farm nears completion

MK-Fintel Wind controls the 69 MW Košava phase 1 wind farm whose construction started in June 2017. 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 phase 1 wind farm, a project worth EUR 118 million, whose construction is expected to wrap up in late 2019. According to the company’s statement today, the construction of Košava 1 is nearing completion.

MK-Fintel Wind Holding owns the other wind farms in Serbia built by Fintel Energia Group and MK Holding. The companies 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.

Comments (1)
Broeseler / February 6, 2019

As far as I now Sweden is in Europe an Marbygden ETT (650 MW) under construction since last year.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

solar nuclear power prices europe eurelectric

Solar, nuclear lower Europe’s power prices by 30% in March

03 April 2025 - Solar broke a record in power generation in March for the third consecutive month, making up more than 10% of Europe’s electricity mix, Eurelectric said

PPC announces 5.8 billion plan for Western Macedonia, focused on photovoltaics, storage and data centers

PPC plans EUR 5.8 billion makeover of Western Macedonia coal region, including data centers

03 April 2025 - PPC presented a EUR 5.8 billion investment plan for the coal region of Western Macedonia in northern Greece

Eurowind Energy virtual PPA Romania automotive manufacturer

Eurowind Energy signs virtual PPA in Romania with automotive manufacturer

03 April 2025 - Autoliv contracted the supply of electricity from a wind park that Eurowind Energy built in Romania and Alight's solar project in Finland

Bulgaria Europe biggest energy community

Bulgaria aims to make Europe’s biggest energy community

03 April 2025 - The upcoming solar power program in Bulgaria for municipalities and small businesses will create Europe's biggest energy community, Minister Zhecho Stankov claims