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Add to Preferred SourcesThe largest wind farm project in Serbia to date officially started its operations in Kovačica, a small town in the north of the country.
With a capacity of 104 MW, the facility will produce electricity equivalent to the annual demand of 60,000 households and reduce CO2 emissions by almost 250,000 tonnes per year.
The EBRD supported the construction of the wind farm with a €49 million loan. Total project cost is €189 million. The investor is Enlight Renewable Energies of Israel.
Construction of the Kovačica wind farm started in 2017. In July 2019 the plant obtained privileged producer status and was fully connected to the grid. Following a successful trial period, the facility has now been inaugurated.
Zsuzsanna Hargitai, EBRD Regional Director of the Western Balkans, said: “Investment in renewable energy is at the core of our energy strategy. It is particularly important for the Western Balkans, a region which is dependant heavily on coal for electricity generation. We are pleased to see this significant project successfully completed and we hope that the project will serve as an encouragement to other investors interested in renewable energy in the region”.
The Kovačica windfarm is a pioneering project for Serbia and illustrates the EBRD’s approach combining investment with policy engagement. Changes in the legal, regulatory and business environment attracted investors and allowed the EBRD to support a ground-breaking project.
The project will also contribute to Serbia’s goal of raising the share of energy consumption from renewable sources to 27 percent in 2020. To date, Serbia’s electricity supply is largely provided by ageing coal-fired plants fuelled by lignite.
Original source: EBRD
Published on 19 September 2019