Serbia, MK Group and the Alfi Green Energy Fund are investing 155 million euros in the construction of Krivaca wind farm

, News Serbia Energy

MK Group and the Slovenian investment fund Alfi Green Energy Fund are investing 155 million euros in the construction of Krivaca wind farm, which started in 2022 and is expected to enter commercial operation by the end of this year.

This will bethe first wind farm to be built in eastern Serbia, in Golubac municipality. The wind farm will consist of 22 wind turbines with combined installed capacity of 105.6 MW and is expected to produce 310 GWh of electricity per year. This would be enozgh to cover the demand of about 75,000 households and reduce carbon dioxide emissions by about 115,000 tons per year.

CEO of MK Group Mihailo Jankovic said that the Group has been investing in renewable energy in Serbia for years and its long-term strategy is further expansion in this area. The Group is currently working on the development of wind projects with a total capacity of over 320 MW, as well as solar energy with a capacity of 660 MW, which are investments worth close to one billion euros planned for the next five years, which we are realizing through joint ventures and solo investments.

The investment will be financed by several local and regional banks: Erste Group Bank AG and Erste Bank Novi Sad, Raiffeisen Bank International AG and Raiffeisen bank Beograd, NLB and NLB Komercijalna banka Beograd, as well as OeEB – the Development Bank of Austria.

Last year, Nordex Group has received an order for 105 MW from Serbia, marking the company’s entry into the Serbian market. In spring 2023 the Nordex Group will be supplying 22 N149/4.X turbines from the Delta4000 series for the Krivaca wind farm. The order also includes a premium service contract for the turbines covering a period of 25 years.

This is also the first renewable energy project in Serbia including a commercial power purchase agreement (PPA), which was concluded with the Swiss energy trader Axpo.

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