Finnish Taaleri Energia said that it has completed 205 million euros refinancing of the largest wind farm in Serbia – 158 MW Cibuk 1.
Wind farm Cibuk 1 was commissioned in October 2019 and is operated by local company Vetroelektrane Balkana, which is wholly owned by Tesla Wind, a joint venture of UAE’s Masdar (60 %), Taaleri Energia (30 %) and German DEG (10 %). Besides Taaleri Energia, UniCredit, Credit Suisse, Eurobank and OTP Bank also contributed to the refinancing.
The project’s cost totaled 300 million euros, Cibuk 1 wind farm has 57 wind turbines with combined installed capacity of 158 MW and average annual electricity generation of 450 GWh, enough to cover the needs of some 113,000 households in Serbia and prevent CO2 emissions in the amount of 370,000 tons per year.
In related news, Vojvodina’s Provincial Secretariat for Urban Planning and Environmental Protection said that an environmental impact assessment study will be necessary for the project for the construction of 155 MW Cibuk 2 wind farm.
Cibuk 2 wind farm will be located near Bavaniste and Mramorak and will be built in two phases. In the first phase, which should start in 2023 and should be completed in a year, wind turbines with total installed capacity of 150 MW will be built. The second phase should double that amount, but the decision on the second phase will be made following the completion of the first phase of the project. However, the value of the investment has not been estimated yet.