Serbia: The French company IEL is preparing an investment in two wind farms in Serbia

28. April 2014. / News Serbia Energy

The construction of the first unit will start in 2015  in Basaid, in the area of Kikinda, and after that, the French investor will begin the construction of wind farm in Mali Crnic as well.

The land for construction is provided for both wind farms. The windmills having total installed capacity of 50 MW will be placed in Basaid, while the value of the investment will reach 70 million euros. When it comes to wind farm in Mali Crnic, the company IEL will invest  50 million euros in the power plant of 36 MW.

– The IEL company has decided to invest in Serbia because of its large capacities of natural resources of the wind energy, there is a good legal framework, and so far, there is no facility built, which provides space for investors. Our wind farm in Mali Crnic is in  development stage, while the energy approval and preparation of location are in progress for the power plant in Basaid .

Investing in wind farms depends on the model of Power Purchase Agreement from renewable sources, which is dissatisfactory for banks and investors can’t close the financial construction. In the French company say they expect some changes regarding the model of the PP Agreement which was adopted last year.

– We expect the Power Purchase Agreement from renewable sources to contribute to security of investment in order to help investors and banks in making decisions regarding investment and in that way to come up with the realization of the project. We believe that the state’s competent authorities will bring adequate solutions.

Source; Serbia Energy

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