Serbian utility EPS inks PPA for 300-MW wind power project

Serbia's state-owned utility Elektroprivreda Srbije (EPS) has signed an off-take contract and other agreements to procure electricity from a planned 300-MW wind farm set some 40 kilometres (24.9 miles) from the nation's capital Belgrade.

The utility and Belgrade-based wind energy developer Vetrozelena signed a power purchase agreement (PPA), an electricity balancing contract and an agreement on the market premium that the wind power project secured in Serbia’s first renewable energy auction in August 2023, the Serbian mining and energy ministry said on Friday.

Vetrozelena’s contracts are the first to be signed in the framework of the auction. The firm’s wind farm will produce electricity for around EUR 64 (USD 68.8) per MWh, the lowest price achieved in the auction, the ministry said.

The wind project, also named Vetrozelena, will feature 48 turbines erected in the municipality of Pancevo. The wind farm is expected to commence operation in the fourth quarter of 2025, the ministry said.

Vetrozelena is a vehicle of CWP Europe, a joint venture between global renewables developer CWP and Mercuria Energy Trading. In April 2023, CWP Europe signed an agreement to enable PowerChina Resources Ltd to invest in the Vetrozelena wind project.

(EUR 1.0 = USD 1.075)

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