Renewables

MK Fintel Wind marks start of construction of Košava wind farm in Vojvodina

Published

June 15, 2017

Country

Comments

comments icon

0

Share

Published:

June 15, 2017

Country:

Comments:

comments icon

0

Share

The MK Fintel Wind company started the construction of its third wind farm in Serbia outside the town of Vršac. This wind farm, named Košava, will be the biggest wind power facility in the country with the first stage of construction, which is due to be completed by the end of 2018, costing an estimated EUR 124 million.

The company, co-owned by the MK Group of Miodrag Kostić, the Serbian businessman, is planning to put up 20 wind generators totaling 69 MW of power capacity. The new renewables facility is to supply electricity to some 40,000 households.

MK Fintel Wind and Fintel Energia spa CEO Tiziano Giovannetti said at the ceremony marking the start of construction that this is the company’s biggest investment in renewable energy in Serbia. He said the company plans to continue its investments and will engage local companies and workers.

Giovannetti said the second stage of construction will cost more than EUR 100 million and added that another 19 wind generators will be put up.

The ceremony was also attended by Serbian Mining and Energy Minister Aleksandar Antić who said the project will help Serbia meet the goal of 27% of power from renewable energy sources by 2020 set out in its national action plan. He said Serbia is getting almost 23% of power from renewable sources and that there are projects under construction to build capacities of 500 MW of green power.

The MK-Fintel Wind  company decided earlier to become the first green energy provider in Serbia to sell shares on the Belgrade Stock Exchange, expecting to raise the money for the initial stage of construction at the Košava wind farm from IPO planned to take place by the end of this year.

The initial offer on the stock exchange would be between 20% and 40% of the total shares in the company.

MK Fintel Wind already has two wind farms in Vojvodina – the Kula power facility outside the town of Kula and La Piccolina outside Vršac.

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

bih federation ephzhb court poklecani urban permit arhaus

Supreme Court of Federation of BiH annulls urban permit for Poklečani wind farm

17 April 2025 - The project is being developed by Elektroprivreda HZHB, one of the three state-owned power utilities in Bosnia and Herzegovina

Minister Admir Sahmanović formally assumes energy, mining portfolio in Montenegro

Minister Admir Šahmanović formally assumes energy, mining portfolio in Montenegro

17 April 2025 - Minister of Energy and Mining of Montenegro Admir Šahmanović was formally voted in as the two ministries that he ran were merged

Nofar Energy 265 MW solar power plant Corbii Mari near Bucharest

Nofar Energy inks deal for 265 MW solar power plant near Bucharest

17 April 2025 - The operator of the biggest solar power plant in Romania is about to start building a much bigger facility in Corbii Mari

romania omv petrom ce oltenia girisim Ameresco Sunel

OMV Petrom, CE Oltenia pick contractors for four solar power plants

17 April 2025 - OMV Petrom and Complexul Energetic Oltenia (CE Oltenia) have signed design and installation contracts for four solar power plants