Oct. 4 – “Conjugate efficiency and costs and resources optimization for the sake of the environment” is the goal behind Fintel Energia Group, active in the development of electricity plants from renewable sources. The goal is now being pursued in Serbia, where the Group, through its Serbian MK – Fintel Wind – AD subsidiary, received from the local Voivodjna government a Building Permit for the “Kosava” wind farm, for a total installed capacity of 117 MW, located in the Municipality of Vrsac in Serbia. Kosava is the largest wind farm in the Balkans, both for installed capacity and production, able to power 19,000 households with a very limited impact on the environment. To finance the project, which includes a Capex (capital expenditure, or the funds that an enterprise uses to buy durable assets) of approximately €200 million, the Group signed a series of non-binding preliminary agreements with the EBRD, Unicredit and Erste Bank. Negotiations are also underway with international industrial operators of prime standing for an equity participation in the project, whose construction will start next spring. “The Building Permit obtained is by far the first and only building permit of this size in Serbia. This milestone rewards our work, which begun in 2007, and consecrates Fintel’s competitive position in the Serbian market, with over 132 MW of wind power projects approved and more than 300MW in the pipeline, confirming our punctuality with the objectives set out during the listing process – commented Tiziano Giovannetti, CEO of Fintel Energia Group – In recent months, we have also been receiving, for our satisfaction, concrete offers from international institutional and industrial investors for our projects in the Balkans.”
