BELGRADE (Serbia), September 28 (SeeNews) – A joint venture comprising U.S.-based Green Star Alternative Energy (GSAE) and Serbian wind farm and power trading company Notos may construct a 120 megawatts (MW) wind farm in northern Serbia that will generate more than $62 million (42.4 million euro) in annual revenue, GSAE said.
“The project is in the advanced stages of pre-construction and in a high wind velocity zone,” the company said in a statement.
“Over 28 months of wind resource data has been accumulated over three micro locations and the results indicate significant energy potential,” the statement said.
The farm will be built in the town of Pancevo in Serbia’s northern province of Vojvodina. The existing 110 kV overhead line runs adjacent to the site and allows for economical integration to the electrical grid, while the transportation infrastructure further eases the construction process, the company said.
A protocol of cooperation has been signed by the City of Pancevo, Vojvodina’s energy secretariat and Serbian Energy Efficiency Agency, the statement also said, adding that a license for grid connection is in process by the national transmission operator (EMS).
"This is an important development for both Green Star and the Republic of Serbia. The project will firmly establish wind as the foremost renewable energy source for the entire region by supplying over 40,000 homes with electricity," GSAE CEO Mike Andric said in the statement.