Renewables

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

Published

June 15, 2017

Country

Comments

0

Share

Published:

June 15, 2017

Country:

Comments:

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

Global utilities scale renewables capacity 2 5 times 2030

Global utilities vow to scale renewables capacity by 2.5 times by 2030

22 April 2024 - Utilities in UNEZA are accelerating grid investment. Member utilities vowed to lift their renewables capacity by 2.5 times to 749 GW by 2030.

Record low power prices and curtailments threaten renewable investments in Greece, Spain

Curtailments, record-low power prices threaten renewables investments in Greece, Spain

20 April 2024 - Renewable energy developers have underestimated the effects of curtailments and low wholesale prices

north macedonia power exchange memo coupling eu brussels shutinoski

North Macedonia eyes first market coupling with some EU member state in 2026

19 April 2024 - Coupling electricity markets with EU countries is very important for the EU membership candidate states, MEMO CEO Simon Shutinoski said

Power-utilities-Greece-Cyprus-home-PV-systems-in-installments

Power utilities in Greece, Cyprus allow home PV systems to be paid in installments

19 April 2024 - Greece and Cyprus have enabled the installation of home PV systems to be paid in installments and without upfront costs