Sitemap

IFC And EBRD Help Boost Supply of Clean Energy in Serbia

CorD Recommends

Red Cross of Serbia Marks 148 Years of Humanitarian Service

In a grand ceremony held at the...

EU Agreement Grants Consumers the Right to Repair Beyond Warranty Period

In a significant stride towards sustainability, European...

China Pioneers 6G Network Testing with World’s First Satellite Launch

In a groundbreaking advancement, China has announced...

Lana Zorjan, 16, Earns Global Recognition as Top Young Classical Artist

Sixteen-year-old violinist Lana Zorjan from Serbia has...

Serbian Firms Clinch Deals Worth Over €8 Million at World’s Premier Organic Food Fair

At the Biofach International Organic Food Fair in Nuremberg, Serbian companies have secured contracts valued at more than €8...

EU Inaugurates Central Office for Artificial Intelligence

The European Union has taken a significant step forward in the realm of artificial intelligence by inaugurating its Artificial...

European Banking Titans Surpass €100 Billion Profit Milestone Amid Rising Interest Rates

For the first time in history, Europe's banking behemoths have collectively breached the €100 billion profit ceiling, fueled by...

Renewables Set to Eclipse Coal in Global Power Generation by 2025, IEA Forecasts

In a landmark shift for global energy dynamics, the International Energy Agency (IEA) forecasts a decline in coal's share...

Serbian Flavors Take Center Stage at Dubai’s Gulfood 2024

At the prestigious Gulfood 2024 in Dubai, a cohort of 24 Serbian firms showcases their culinary prowess, marking a...

The 158 MW Čibuk 1 wind farm will consist of 57 turbines and produce up to 457 GWh of electricity per year. It is planned to be completed by the end of 2018 and will be the largest commercial wind energy project in Serbia and the Western Balkans.

The wind farm is being developed by Vetroelektrane Balkana, owned by Tesla Wind which is a joint venture between Masdar, a renewable-energy company based in Abu Dhabi, and Čibuk Wind Holding, a subsidiary of the US-based wind-energy developer Continental Wind Partners.

The Cabinet of Aleksandar Vučić, President of Serbia, issued a statement highlighting that the project is expected to bring electricity to around 113,000 households and will reduce gas emissions by more than 370,000 tonnes of carbon dioxide per year.

Harry Boyd-Carpenter, EBRD Director of Power and Energy Utilities, commented: “The Čibuk wind farm is a breakthrough for Serbia as the country works to meet its commitment to producing 27 per cent of domestic power needs from renewable energy sources by 2020. The EBRD has worked closely with the government to develop and refine the regulatory framework for the sector and these efforts have now unlocked job-generating foreign investment and the first wave of renewable-energy projects.”

Thomas Lubeck, IFC’s Regional Manager for Central and Southeastern Europe said “This project highlights IFC’s creating markets strategy, paving the way for other renewable energy projects. It is a result of our cooperation with all stakeholders and our work with Serbia’s government to improve relevant bylaws and the model power purchase agreement, IFC is a global leader in facilitating cross border investments and our support for renewable energy is a key part of our work to help mitigate climate change.”

“We would like to thank the government of Serbia, Mubadala Investment Company, as well as the lenders, advisors, and all the other parties involved in reaching this critical milestone. The development of the largest wind farm in the Western Balkans is a pivotal moment for the expansion of renewables in the region and positions Serbia at the forefront of Europe’s fastest-growing alternative energy sector” said Yousif Al Ai, Chairman of Tesla Wind.

The construction of the wind farm will create 400 jobs in the area and contribute to improvements in local infrastructure with, for example, the construction of 50 km of roads.

 

source: EBRD/Tanjug

 

 

Related Articles

Serbia Awards Distinctions to Notable Personalities on National Day

In a ceremonial tribute to Serbia's National Day, President Aleksandar Vučić presented awards to a host of esteemed individuals and entities, celebrating their significant...

Serbia Eyes Stake in Thessaloniki or Piraeus Ports to Boost Exports

In a strategic move to enhance its export capabilities, Serbia has expressed readiness to acquire a portion of either the Thessaloniki or Piraeus ports,...

Muehlbauer’s New Factory in Serbia: A Milestone for Tech Innovation and German-Serbian Relations

In a significant development that marks a new chapter in Serbia's technological landscape, the foundation stone for Muehlbauer Holding's new production facility was ceremoniously...

Construction Commences on BIO 4 Campus in Belgrade

In Belgrade, near the "Torlak" Institute for Virology, Vaccines, and Serums, the groundbreaking ceremony for the BIO 4 campus has commenced.  This unique multidisciplinary project...

EBRD Grants €17 Million Loan for New Pedestrian and Cycling Bridge in Belgrade

The European Bank for Reconstruction and Development (EBRD) has approved a €17 million loan to the City of Belgrade for the construction of a...

Landslide Victory for Serbian Progressive Party in National Elections

The Serbian Progressive Party, led by "Aleksandar Vučić – Serbia Must Not Stop", has clinched a remarkable victory in the recent parliamentary elections. According...

Apple Co-Founder Steve Wozniak to Become a Serbian Citizen

Steve Wozniak, the acclaimed American computer engineer and co-founder of Apple, along with his wife, is set to become a Serbian citizen, as announced...

Belgrade Wine, Food and Tourism Expo: Wine Vision of Open Balkans

Belgrade has proudly inaugurated the second edition of the "Wine Vision of the Open Balkans" expo, a prestigious event in wine, food, and tourism,...