UPDATE 1 - Serbia's NIS Energowind to pick supplier for Plandiste wind park equipment by end-2013

Serbian oil and gas company NIS [BEL:NIIS] said on Wednesday its 50%-owned unit NIS Energowind is finalizing talks with European suppliers of equipment for the Plandiste wind park and that it should make the final pick by the end of 2013.

NIS Energowind, co-owned by NIS and private partners, started on Wednesday the construction of the Plandiste wind park and plans to complete the project in 12 months, NIS said in a press release.

The 102 megawatt Plandiste wind park in the country's north will comprise 34 turbines.

The total value of the project amounts to 160 million euro ($213.6 million) with NIS set to provide up to 23 million euro from own funds. The remainder will be provided by partners and lenders.

NIS (www.nis.rs), 56.15%-owned by Russia's Gazprom Neft, is one of the largest vertically integrated oil and gas companies in Southeast Europe. Main activities include the exploration, production and processing of oil and gas, as well as the production of a wide range of petroleum products.

($=0.7491 euro)

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