The European Bank for Reconstruction and Development (EBRD) announced that, along with the International Finance Corporation (IFC), it has signed a loan agreement worth 215 million euros for the construction of Cibuk 1 wind farm in Serbia with local company Vetroelektrane Balkana.
Serbian President Aleksandar Vucic, who attended the signing, said that wind farm Cibuk 1 will consist of 57 wind turbines with total installed capacity of 158 MW, it will produce up to 457 GWh of electricity per year and its construction is expected to be completed by the end of 2018. The project is being developed by Vetroelektrane Balkana, a company owned by Tesla Wind, which is a joint venture of Masdar from the United Arab Emirates and local subsidiary of US company Continental Wind Partners.
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed
Tags: Cibuk, construction, Continental Wind Partners, EBRD, electricity, IFC, loan, Masdar, Serbia, Vetroelektrane Balkana, wind, wind farm