January 31 (SeeNews) - Fintel Energija AD [BEL:FINT], the Serbian subsidiary of Italy's Fintel Energia Group, said on Wednesday it plans to bring its Kosava Phase 2 wind park project fully on stream by 2026.
Kosava Phase 2 is planned to have 19 wind turbines of total capacity of up to 70 MW, depending on the type of the chosen turbines, Fintel Energija said in a Belgrade bourse filing.
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It added that among its ongoing projects, Kosava Phase 2 is in the most advanced stage, having secured all needed licences.
Fintel Energija now has three active wind farms in northern and northeastern Serbia - the 9.9 MW Kula, the 6.6 MW La Piccolina and the 69 MW Kosava Phase 1. Thus, the installed capacity of its wind farms totalled 85.5 MW at the end of 2023, with some 500 MW of new projects under development.
Fintel Energija was the first company to install and operate wind farms in Serbia back in 2016. The group sells its electricity output through power purchase agreements to state-owned utility Elektroprivreda Srbije (EPS).
Fintel Energija said its net profit rose to 21.4 million dinars ($194,000/179,000 euro) last year, from 7.6 million dinars in 2022.
Its shares are a component of the blue-chip index of the Belgrade bourse, and last traded on January 18, closing flat at 650 dinars.
(1 euro = 117.174 dinars)