Fintel Energija announces construction of largest wind farm in Serbia and Europe

(Illustration) The Board of Directors of Fintel Energija A.D. has reached the decision on the initiation of ambitious projects of the construction of new wind farms, including the project of the development of the biggest wind farm in Europe. The CEO of Fintel Energija, Tiziano Giovannetti, announced that, with these projects, Serbia would be one of the fastest countries when it comes to the transition from fossil fuels to clean energy.

– Fintel Energija A.D has founded new SPVs for the development of new projects of the construction of wind farms: Lipar d.o.o. (10 MW), Lipar 2 d.o.o. (10 MW) and Maestrale Ring d.o.o. (572 MW). The Maestrale Ring project will be the biggest wind farm to be build on land on the entire European continent – Giovannetti said. He emphasized that the new projects would be 100%-owned by Fintel Energija and that they would be located in Vojvodina.

– With the step we've made today, the company will manage to increase the total installed power of the wind farms it is developing from 352 MW to 944 MW, whereby Fintel Energija would become one of the top European companies when it comes to the development of wind farm projects – Giovannetti said.

The Board of Directors of Fintel Energija A.D. met for the first time after the company's successful listing at the Belgrade Stock Exchange in November 2018. Their shares were included in the BELEX Prime Listing, the best segment of the local capital market. This was preceded by an IPO.

Fintel Energija A.D. is a pioneer in the production of electricity from RES in the Balkans, where it has been operating for a whole decade as one of the most important investors in this field in Serbia. In this period, it has built and commissioned the first two wind farms in Serbia and brought the construction of the third one (Kosava phase 1) close to completion. Fintel Energija is currently working on the second phase of the Kosava project, which will be an extension of the existing Kosava wind farm of 69 MW. The second phase of Kosava will consist of an additional 52 MW of installed power and be jointly financed by local and international creditors.

Fintel Energija a.d. Beograd

Fintel Energija AD

Lipar doo

Lipar 2 doo

Maestrale Ring doo

wind farms in Serbia

Tiziano Giovannetti

Lipar wind farm

Lipar 2 wind farm

Maestrale Ring wind farm

Košava wind farm