Renewables

GGF Impact Stories: Greening Serbia’s energy mix

Photo: Elicio

Published

July 10, 2018

Country

Comments

0

Share

Published:

July 10, 2018

Country:

Comments:

0

Share

The Green for Growth Fund (GGF), which was initiated as a public-private partnership in December 2009 by German development bank KfW and the European Investment Bank (EIB), surpassed major milestones in 2017, increasing the total financing it has provided to final borrowers to over EUR 600 million across more than 25,000 individual projects.

The GGF combines its financial offering with technical assistance to build capacities with partners and across the investment ecosystem, ensuring that energy efficiency, renewable energy, and improved resource management move toward the mainstream, according to its Annual Impact Report 2017.

The annual CO2 emissions reduced by the GGF’s investment portfolio stand at 495,551 tons, which equals 172,000 tons of waste recycled instead of landfilled. South-East Europe (SEE) accounts for 62% of financing disbursed by the GGF, whose Impact Stories include supporting wind farm projects in Serbia.

Delivering wind power in Serbia

The GGF is supporting Serbia’s commitment to achieving 27% of its energy sources from renewable energy by 2020 and is doing this through its direct support for the Alibunar and Čibuk wind farms, as well as indirect support for the Malibunar wind farm.

Belgium’s Elicio is the developer of the Alibunar and Malibunar wind farm projects. Elicio has been present in Serbia since 2010, when the legal framework for the renewable energy sector was established.

The Malibunar wind farm is the first project to be commissioned under the framework. Operational since September 2017, it is an 8 MW project comprised of four wind turbines.

The 42 MW Alibunar, made up of 21 turbines, is in the final stages of construction.

Serbia is one of the first countries in the region to develop a bankable renewable energy framework and these projects are a testament to its success, according to the GGF.

The GGF also supports the Čibuk wind farm, a EUR 300 million project of 57 wind turbines that will provide electricity to around 113,000 homes. Čibuk was developed by a consortium that includes Masdar, Finnish financial group Taaleri and German development finance institution DEG, part of KfW Group.

For the Alibunar and Čibuk transactions, the GGF worked with the International Finance Corporation (IFC), a member of the World Bank Group, and the European Bank for Reconstruction and Development (EBRD).

The annual energy saved by the GGF’s investment portfolio in Serbia stands at 590,000 MWh per year, which is equal to the electricity produced by 100 modern wind turbines in a year.

The annual CO2 emissions reduced by the GGF’s investments in Serbia amount to 174,000 tons, which is equivalent to taking roughly 115,000 cars off the roads.

Comments (0)

Be the first one to comment on this article.

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

EU Masdar-Taaleri 65 MW solar joint venture Greece

EU approves Masdar-Taaleri’s 65 MW solar power joint venture in Greece

30 July 2021 - The EU allowed Masdar-Taaleri Generation to partner with two Greek firms on the 65 MW Asopia solar power project near Athens

croatia recovery resilience plan rimac ina

Croatia’s recovery and resilience plan: EUR 200 million for Rimac autonomous taxis

30 July 2021 - The country earmarked EUR 200 million from its recovery and resilience plan for Rimac's urban mobility ecosystem with electric autonomous taxis.

Turkey first hydro solar hybrid power plant Lower Kalekoy

Turkey’s first hydro-solar hybrid power plant Lower Kaleköy comes online

30 July 2021 - Cengiz Holding added an 80 MW solar power plant to its 510 MW Lower Kaleköy hydroelectric unit in Turkey, integrating them into a hybrid power plant

Romania’s Electrica takes over EUR 207 MW wind, solar portfolio from Monsson

Romania’s Electrica takes over EUR 207 MW wind, solar portfolio from Monsson

29 July 2021 - Distribution and supply company has bought firms which are developing two photovoltaic parks, and one wind farm.