Serbia: MK Fintel Wind to be listed in May

, News Serbia Energy

CEO of MK Fintel Wind, a joint venture between Serbian MK Group and Italian Fintel Energia, Tiziano Giovanetti said that the company will carry out its initial public offering (IPO) on the Belgrade Stock Exchange in May.

Giovanetti explained that the stock market listing brings many advantages and enables a more sta-ble and firm financial structure for the company, while the experience of Fintel Energia can serve as a benchmark for the future development of the Belgrade Stock Exchange. The company expects to receive some 15 million euros from the IPO, which will be later invested in the construction of 117 MW Kosava wind farm and other projects in devel-opment.

MK Fintel Wind is currently developing the project for the construction of 117 MW Kosava wind farm near Vrsac. In November 2015, it has commis-sioned 9.9 MW wind farm near Kula, which is the first such facility in Serbia. It has three 178 me-ters high wind turbines, expected annual electrici-ty generation of 27 GWh, while the value of the investment was around 15 million euros, while 6.6 MW La Piccolina wind farm near Vrsac was com-missioned in October 2016. After the completion of Kosava wind farm, MK Fintel Wind will operate a total of 133 MW in wind power.