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May 26, 2020 15:20 EEST
May 26 (SeeNews) - Fintel Energija AD [BEL:FINT], the Serbian subsidiary of Italy's Fintel Energia Group, said that it has received a privileged electricity producer status for the 69 MW Kosava wind farm.
MK Fintel Wind, a 46/54 joint venture between MK Group and Fintel Energija, has completed the first phase of the development of the wind farm in northern Serbia, which included the installation of 20 turbines, Fintel Energija said in a filing with the Belgrade Stock Exchange.
According to Serbia's energy law, the status of a privileged power producer implies the right of priority on the organised electricity market in relation to other producers if the electricity supply terms are equal.
A total of 120 million euro ($131.5 million) was invested in the construction of the wind farm which MK Fintel Wind has been operating in a trial mode since September 2019.
In November 2018, Fintel Energija successfully completed the first initial public offering (IPO) on the Belgrade Stock Exchange since 1940.
($ = 0.912851 euro)
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