Renewable energy developer and fund manager Taaleri Energia has successfully completed a EUR 205 million refinancing of Čibuk, a 158 MW onshore wind farm in Serbia, together with UniCredit, Credit Suisse, Eurobank and OTP Bank.
Čibuk wind farm is owned by the Taaleri SolarWind I Fund and its co-investors, Finnfund, Masdar and DEG, the German development finance institution, Taaleri Energia said.
Čibuk 1 is the largest wind farm in Serbia. It has been producing electricity since October 2019.
Kai Rintala, Taaleri Energia’s Managing Director, said that the refinancing has significantly enhanced returns for their investors.
Taaleri Energy has a 2.8 GW wind and solar portfolio in Europe, the US, and the Middle East
With 57 GE turbines, Čibuk is the largest wind farm in Serbia and produces enough electricity to supply around 87 000 households and offsets the equivalent of around 380,000 tonnes of carbon dioxide during each year of operation, said Taaleri Energia, part of the Taaleri Group.
The company is currently investing its fifth renewable energy fund, the Taaleri SolarWind II fund, and has a 2.8 GW wind and solar portfolio in Europe, the US, and the Middle East.
Taaleri Energia is part of the Taaleri Group, which is listed on the Nasdaq Helsinki stock exchange.
Of note, investors led by Masdar from the United Arab Emirates are preparing another project, Čibuk 2, envisaged to have 300 MW.