Serbian wind project of 66-MW gets EU grant funding

The European Union (EU) will extend EUR 30 million (USD 32.5m) in grant financing to the Serbian government to back the construction of a 66-MW wind farm in the Balkan country.

The aid will be disbursed following an agreement signed by the Serbian Minister of Mining and Energy, Dubravka Dedovic Handanovic, according to an official statement on Monday.

The fresh funding is earmarked for the Kostolac wind project proposed by state-owned energy producer Elektroprivreda Srbije (EPS), which is investing some EUR 32.2 million of own resources. The scheme, estimated to require total investments of some EUR 144 million, is already backed by German development bank KfW with EUR 81.8 million in grants and loans.

The Kostolac wind farm will be installed near the city of Kostolac, northeastern Serbia, and is planned to go online in the first half of next year. Its 20 turbines are expected to generate 187 GWh of electricity, or enough to supply roughly 30,000 homes annually.

(EUR 1.0 = USD 1.083)

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