MK Fintel Wind secures loan of EUR 81.5 million for first phase of construction of Kosava wind farm

The company MK Fintel Wind, which operates as part of Fintel Energija a.d, has secured a loan of EUR 81.5 million for the financing of the completion of the first phase of the Kosava wind farm near Vrsac, the company announced.

The construction of the Kosava wind farm began in July 2017, and the amount of EUR 81.5 million, needed for the completion of the project, will be financed with the proceeds from the loans of Erste Group, Erste Bank Serbia, Austrian Development Bank (OoEB), UniCredit Bank Serbia and Zagrebacka Banka.

Funds for the first phase of the construction of one of the biggest wind farms in Serbia were thereby secured. The second phase of the construction of the Kosava wind farm, which encompasses 19 generators with the total installed power of 117 MW, is expected to begin in early 2019.

– A hundred people will be hired for the construction of the Kosava wind farm, and thanks to them and the expertise of local companies, we expect the wind farm to be put into operation by the end of 2019 – stated Tiziano Giovannetti, CEO of Fintel Energia SpA and MK Fintel Wind.

MK-Fintel Wind d.o.o. Beograd

Fintel Energia Grupa Italija

ERSTE BANK-AUSTRIJA

Erste Bank a.d. Novi Sad

UniCredit Bank Srbija a.d.

Zagrebačka banka d.d. Zagreb

Fintel Energia AD

Austrian Development Bank

OoEB

Kosava wind farm

wind farm near Vrsac

construction of Kosava wind farm

wind farms in Serbia

wind generators

Tiziano Giovannetti

Fintel Energia SpA