Fintel Energia Says IFC May Back 128.7 MW WPP Project in Serbia

Italy's Fintel Energia Group said on Wednesday the International Finance Corporation (IFC) has notified its interest in helping finance the 128.7 megawatt (MW) Kosava wind farm project in Serbia.

The Italian group's Serbian unit, MK-Fintel Wind, has received an expression of interest from the IFC aimed at starting all necessary activities for the structuring of project financing for the Kosava wind farm with expected capex of some 196 million euro ($262 million), Fintel Energia said in a press release.

The letter is in addition to other letters of interest previously issued by UniCredit and Erste Bank for the same project to be syndicated with the IFC.

The signing of the term sheet and the definition of all the features of the project financing are subject to the execution of all the due diligence activities by the lender and the approval of the competent organs of the same institution, the statement said.

In July, Erste Bank Serbia signed with local wind park developer Vetropark Kula, a unit of MK-Fintel Wind, a 11.7 million euro credit agreement to finance the 9.9 MW Kula wind power plant.

In December, Fintel Energia Group said MK-Fintel Wind had secured location permits in Serbia for the RAM, Dunav 1 and Dunav 2 wind farms with a combined installed capacity of 30 MW.

MK Fintel Wind is a 46/54 joint venturebetween Serbia’s MK Group and Fintel Energia Group. It was set up in 2008 to invest in green energy projects in Serbia and the region.

Source: SeeNews