June 12 (SeeNews) - Serbia's MK Fintel Wind, a joint venture of Serbian vertically integrated conglomerate MK Group and Italy's Fintel Energia Group, said on Monday it plans to officially start the construction of its third wind farm on June 14.
The wind farm, named Kosava, will represent the largest renewable energy investment in Serbia so far, MK Fintel Wind said in a statement.
You can download the 2024 Renewable energy in Southeast Europe report here
Last month, MK Fintel Wind said it aims to raise 60 million euro ($74.8 million) through an initial public offering (IPO) on the Belgrade Stock Exchange that will be invested in the construction of the 117 MW Kosava wind farm, located near Vrsac, in northern Serbia.
The company said in October it plans to invest 50 million euro in the first phase of the construction of the Kosava wind farm. The total investment in the project is estimated at 124 million euro and its construction is expected to be completed in 2019.
MK Fintel Wind, a 46/54 joint venture between MK Group and Fintel Energia Group, was set up in 2008 and already operates two wind farm in Serbia, with a combined installed capacity of 16.5 MW.
($ = 0.8929 euro)