May 18 (SeeNews) - Fintel Energija, the Serbian subsidiary of Italy's Fintel Energia Group, plans to invest at least 300 million euro ($353 million) in Serbia in the next five years, the company CEO, Tiziano Giovanetti, said on Friday.
"So far, we have invested 150 million euro in Serbia and we plan to invest at least the double in the next five years," Giovanetti said in a video file posted on the website of news agency Tanjug.
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Fintel Energija is currently working on securing the 110 million euro financing for a new project in Serbia, a wind farm with a capacity of about 50 MW, Giovanetti said.
Last month, Fintel Energija said it submitted an application for the listing of its ordinary shares on the regulated prime listing market of the Belgrade Stock Exchange. The application, filed with the Serbian Securities Commission on April 18, is part of the process for the initial public offering (IPO) of the Serbian company in Belgrade, Fintel Energia Group said back in April.
The Securities Commission will provide a feedback on the application in a few weeks, Giovanetti said. "Unfortunately, for the moment we cannot disclose further details, because we have to wait for the Securities Commission to approve the prospectus."
MK Fintel Wind, a 46/54 joint venture between Serbian diversified conglomerate MK Group and Fintel Energia Group, said in June 2017 it started the construction of construction of Kosava, its third wind farm in Serbia.
The company was set up in 2008 and already operates two wind farm in Serbia, with a combined installed capacity of 16.5 MW.
($ = 0.849717 euro)