Serbia's Kovacica, Cibuk wind farms to supply power to 180,000 households

Serbia's Kovacica and Cibuk wind farms will produce electricity for some 180,000 households, while reducing carbon dioxide emissions by over 600,000 tonnes per year, the European Bank for Reconstruction and Development said on Wednesday.

Thanks to the two pioneering projects, Serbia is approaching its pledged objective set by the National Renewable Energy Action Plan, which created a national binding target of 27% share of renewable energy in overall energy consumption by 2020, the EBRD said in a statement.

"The Cibuk and Kovacica windfarms are a breakthrough for Serbia’s renewable energy sector. The EBRD has worked closely with the government to develop and refine the regulatory framework for the sector and these efforts have unlocked the first wave of renewable energy projects," EBRD’s Regional Head of Western Balkans Zsuzsanna Hargitai said.

The EBRD provided 48.8 million euro ($55.2 million) financing to Enlight Renewable Energy, the project sponsor and developer of the 104 MW Kovacica wind farm. The bank also supported Vetroelektrane Balkana (WEBG), the project company behind the 158 MW Cibuk wind farm, with a 215 million euro syndicated loan in cooperation with the International Finance Corporation.

Both wind farms have started producing electricity and are now in the final phase before they can be officially connected to the grid.

($ = 0.884326 euro)

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