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MK Fintel Wind agrees 81.5 mln euro loan for Kosava wind farm

Author Radomir Ralev
MK Fintel Wind agrees 81.5 mln euro loan for Kosava wind farm Tiziano Giovanetti; Source: MK Fintel Wind

BELGRADE (Serbia), February 27 (SeeNews) - MK Fintel Wind, a joint venture of Serbian vertically integrated conglomerate MK Group and Italy's Fintel Energia Group, said on Tuesday it agreed to receive a 81.5 million euro ($100 million) loan for the first phase of the construction of the Kosava wind farm.

The financing will be provided by Erste Group, Erste Bank Serbia, Unicredit Serbia, Zagrebacka Banka and the Development Bank of Austria (OeB), MK Fintel Wind said in a statement. 

The company is preparing a listing on the Belgrade Stock Exchange, which is expected to be carried out in the next two months, in order to ensure financing for the second development phase of the project, the managing director of MK Fintel Wind, Tiziano Giovannetti, said.

A total of 100 employees will be hired for the construction of the wind farm, which is expected to be launched at the end of 2019, MK Fintel Wind said.

MK Fintel Wind, a 46/54 joint venture between MK Group and Fintel Energia Group, said in June 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.

($ = 0.814177 euro)