SARAJEVO, April 5 The European Bank for
Reconstruction and Development (EBRD) said on Wednesday it would
lend up to 50 million euros ($53 million) to Serbian company
Electrawinds K-Wind to help finance one of the Balkan country's
first wind farms.
The 104.5 megawatts (MW) project in the northern town of
Kovacica, estimated to cost 185 million euros, will be among the
first large-scale privately-run wind farms in Serbia.
Currently there are no private or state-run wind farms in
Serbia but several are in the planning or construction stages.
The scheme in Kovacica will help diversify the country's
power sector, which produces 70 percent of its supply from coal
and the rest from hydro.
Electrawinds K-Wind is a special purpose vehicle, currently
owned by Solaveris Limited and Israel-listed Enlight Renewable
Energy, through its subsidiary Blacklight Energies.
EBRD said the project will be financed through equity and
up to 140 million euros worth of commercial loans.
The wind farm, consisting 38 wind turbines with 2.75 MW
capacity each, will be located 50 kilometres (31.07 miles)
northeast of capital Belgrade.
Serbia has an objective to secure 27 percent of total energy
consumption from renewables by 2020.
($1 = 0.9376 euros)
(Reporting by Maja Zuvela, editing by Pritha Sarkar)