Emergy and its partner WV International have sold a 168MW onshore wind project in Serbia to Heavy Energy International.
Nordic renewable energy developer Emergy announced the landmark agreement for the sale of the Alibunar project.
Emergy chief executive Joar Viken said: “This transaction marks a significant milestone in our mission to expand sustainable energy solutions across south-east Europe.”
WV International is a Dutch-Belgium based developer, while Heavy Energy International is a Hong Kong-based subsidiary of Sany Renewable Energy, an international turbine manufacturer.
The sale includes the project rights for Alibunar Wind Farm 1 and 2, located in the Alibunar municipality in Serbia.
The projects are expected to generate approximately 480GWh of electricity annually and have secured market premiums in Serbia’s renewable energy auctions.
Upon completion of construction and grid connection, the electricity generated by Alibunar 1 and Alibunar 2 will be sold to Serbia’s state-owned power utility Elektroprivreda Srbije (EPS), under a 15-year Power Purchase Agreement (PPA).
Emergy has rapidly expanded its portfolio since 2022 and holds over 2GW of projects under development across Serbia, Romania, Greece, and Ukraine.
Other winners in Serbia’s renewable energy auctions included Matrix, owned by French company Akuo, with its Bela Anta 2 wind farm project.
The Ministry of Mining and Energy in Serbia said the offered quota of 424.8MW for solar and wind power plants was significantly exceeded in the auction round.
The Ministry has allocated a combined 645MW for 10 solar and wind power projects.
There were 41 project applications in total, including 34 for solar power plants and seven for wind energy projects.