Italy's
Fintel Energia Group said on Tuesday it has signed with Erste Bank a non-binding
term-sheet for the financing of the 9.9 MW Kosava 2 wind farm in the northern
Serbian town of Vrsac.
The term-sheet envisages 12-year non-recourse
financing for a total consideration up to 10.65 million euro ($11.6 million) and
with a minimum equity of 30%, Fintel Energia Group said in a
statement.
The Kosava 2 wind farm, 54% owned by Fintel and 46% by local
vertically-integrated agro-industrial conglomerate MK Group, will consist of
three turbines of 3.3 MW unitary power each and will deliver 32 GWh a year,
equal to the yearly consumption of 9,200 Serbian households.
The wind
farm is due for completion by the end of the 2016, and along with another two
projects under construction - the 6.6 MW La Piccolina and the 9.9 MW Kula -
confirms the market leadership of MK-Fintel Wind,Fintel Energia Group's Serbian
unit, in the local green energy sector.
On Monday, Fintel Energia Group
said it had obtained a building permit for the construction and operation of a
9.225 MW wind farm located in Veliko Gradiste, central Serbia.
The power
plant, due for completion in the first half of 2016, will be build and operated
by a special purpose vehicle named Vetro Park RAM.
The RAM wind farm,
which will generate enough clean energy to power 4,400 homes, is the fourth
project in a row developed by MK Fintel Wind to pass the building permit
milestone.
MK Fintel Wind, a 46/54 joint venture between MK Group and
Fintel Energia Group, was set up in 2008 to invest in green energy projects. Its
fully licensed pipeline in Serbia consists of 154 MW.