Electrawinds K-Wind has secured €142m to finance the 104.5MW Kovacica wind farm in Serbia.
Serbian legal firm BDK Advokati advised on all local law aspects of the project financing. Israeli outfit Enlight Renewable Energy is backing Electrawinds on the project.
This is the first financing transaction of a large-scale energy project in the Balkan country to have successfully reached financial close, BDK Advokati said.
The loans have been provided by Erste Group Bank AG (supported by the German Export Credit Agency Euler-Hermes), Erste Bank Serbia, and the European Bank for Reconstruction and Development (EBRD).
The Kovacica project, valued at about €189m, will consist of 38 GE 2.75-120 turbines. Construction at the wind farm started last year.
Image: GE
Serbians score Kovacica cash
By EBS