IFC mulls 70 mln euro loan for CWP wind park project in Serbia

The total cost of the project is seen at up to 280 million euro, the IFC said in a statement on Friday.

Other financiers are likely to include the European Bank for Reconstruction and Development and the Overseas Private Investment Corporation.

The proposed IFC funding is pending review by its board on April 15.

Construction of the project is expected to commence in the second half of 2015 and commercial operations are expected to begin by the end of 2016, the IFC said. The proposed wind park site covers an area of approximately 3,700 hectares.

CWP was established in 2006 as a wind project developer focused on the Balkan countries with expertise in developing, financing and constructing wind energy projects. CWP’s strategy is to develop greenfield projects and subsequently monetize its participation in projects to major utilities. The company does not own any operating assets.

($=0.8155 euro)