MK Fintel Wind to hold formal launch of Kula WPP in Serbia on Nov 12

MK Fintel Wind, a 46/54 joint venture between Serbian vertically integrated conglomerate MK Group and Italy's Fintel Energia Group, said it will hold a formal launch on November 12 of a 9.9 MW wind power plant (WPP) in the northern Serbian town of Kula.

The wind park will produce 27 million KWh of electricity annually, enough to supply up to 8,000 households with green energy, MK Fintel Wind said late on Friday in an emailed response to a SeeNews inquiry.

MK Fintel Wind invested close to 15 million euro ($16.2 million) in the wind park and plans to invest a further 11 million euro in a new wind park, close to the northern town of Vrsac.

Once it begins operations, Kula will be the first wind farm to do so in Serbia.

In June, Fintel Energia Group said its Serbian subsidiary Energobalkan had signed with UniCredit Bank Serbia a contract for the financing of the 6.6 MW La Piccolina wind farm.

In addition, Energobalkan signed with Vestas Systems A.G. and Prenecon S.A. the engineering, procurement and construction contracts for the supply and construction of the La Piccolina wind farm.

The La Piccolina wind farm, already under construction in the Vrsac area, is due for completion by the beginning of 2016 and will be, after Kula, the second wind farm in Serbia to be eligible for the feed-in tariff envisaged by the current Serbian law, the Italian company said at the time.

In May, Fintel Energia Group said it had signed with Erste Bank a non-binding term-sheet for the financing of the 9.9 MW Kosava 2 wind farm in Vrsac.

The Kosava 2 wind farm will consist of three turbines of 3.3 MW unitary power each and will deliver 32 GWh a year, equal to the annual consumption of 9,200 Serbian households. The wind farm is due for completion by the end of the 2016.

Also in May, Fintel Energia Group said it had obtained a building permit for the construction and operation of the 9.225 MW RAM wind farm located in Veliko Gradiste, central Serbia. The power plant, due for completion in the first half of 2016, will be build and operated by a special purpose vehicle named Vetro Park RAM.

MK Fintel Wind was set up in 2008 to invest in green energy projects in Serbia and the region.

Established in 1983, privately-held MK Group is mainly involved in agricultural commodities production, trading and logistics, meat production and processing, sugar production and agricultural inputs distribution in Serbia and in farming and grain storage in Ukraine.

Serbia is committed to a binding 27% target of energy from renewable sources in gross final energy consumption by 2020, compared with 21.2% in 2009.

($=0.9284 euro)

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