November 29 (SeeNews) - Finnish asset manager Taaleri Group has agreed to acquire a 30% stake in Cibuk Wind Holding, the owner of a 158 MW wind farm in Serbia.
The Finnish group, part of Taaleri plc., said in a statement on Tuesday that it will finance the deal using funds from Taaleri Aurinkotuuli, one of the group’s investment funds, and Finnfund, a Finnish state-owned development financier.
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The acquisition is seen to be completed by the end of the year.
The Cibuk 1 wind farm, currently under construction, will be powered by 57 turbines made by General Electric that are expected to generate up to 475 GWh of electricity annually.
Once completed, it will be the largest utility-scale wind park in Serbia. Commissioning is slated for 2019, Taaleri said, adding that it will take part in building and operating the wind farm, whose majority owner is Abu Dhabi’s renewables developer Masdar.