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Serbia Advances in Renewable Energy with Pupin Wind Park Financing

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In a significant stride towards renewable energy adoption, Serbia has finalized the financial arrangements for the Pupin Wind Park, with contracts signed at the Hyatt hotel, attended by Minister of Mining and Energy Dubravka Đedović Handanović. 

This project, the second of nine incentivized in last year’s market premium auctions, aligns with Serbia’s energy transition goals, promising new renewable capacities and sustainably priced energy.

Đedović Handanović confirmed that the wind park’s output would bolster Serbia’s energy system, supplying around 40,000 households. The Electric Power Industry of Serbia (EPS) anticipates its inaugural wind park launch early next year.

Key agreements include an electricity purchase and balance responsibility transfer between Enlight Renewable Energy and EPS, a credit arrangement involving Enlight Renewable Energy, the European Bank for Reconstruction and Development (EBRD), and Erste Bank, and a project participation agreement among these entities.

Located in southwestern Banat, within Kovačica municipality, the Pupin Wind Park will feature 16 wind turbines, with a total capacity of 94.4 MW, providing employment for 50 to 200 workers during construction, and over ten permanent positions post-completion.

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With an investment pegged at approximately €100 million, the signing was witnessed by EPS’s acting general director Dušan Živković, EBRD’s Western Balkans director Matteo Colangeli, Israel’s ambassador to Serbia Yahel Vilan, Enlight Renewable Energy’s Europe director Marko Lipošćak, and Erste Bank Serbia executive board member Nikola Stamenković, highlighting the project’s broad support and international collaboration.

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