DEG claims 10% equity stake in the Cibuk I Wind Farm in Serbia

Deutsche Investitions- and Entwicklungsgesellschaft mbH claims and equity interest of 10% in the Cibuk I wind farm in Serbia. The wind farm is likely to have a capacity of 158 MW, claiming it to be the largest wind farm in Serbia. Taaleri Group has also assumed 30% stake in the company. The wind farm will be built by the project company Vetroelektrane Balkana d.o.o. (WEBG) in the north-eastern province of Vojvodina. The 57 turbines will produce around 470 GWh of electricity per year, which will be fed into the national grid to suffice for 113,000 households with green energy. The wind turbines will be supplied by GE Wind Energy GmbH in Salzbergen, Lower Saxony.

The company’s mission is to generate a quarter of its power from renewable sources by 2020 as it currently produces 2/3rd s of electricity from Coal.  The Serbian government has set up a funding programme aiming to generate  500 MW of wind energy. The Cibuk I wind farm is one of the biggest projects under this scheme.

It is alleged to mitigate CO2 levels by 370,000 tonnes thereby lessening the reliance on coal based power generation. Aiming to partake in the sustainable development in Serbia, the infrastructure mission is anticipated to create job opportunities in the region as well leading to economic boom.

Image Source: ERBD