PROJECT

Projects

Summary of Investment Information

Project Number

32752

Company Name

ELICIO ALI VE D.O.O. BEOGRAD

Date SPI Disclosed

Apr 24, 2013

Country

Serbia

Region

Europe

Projected Board Date

May 27, 2013

Environmental Category

B - Limited

Status

Completed

Last Updated Date

Dec 18, 2022

Department

Gbl Infrastructure & Natural Resources

Industry

Infrastructure

Previous Events

Approved : May 31, 2013
Signed : Jun 28, 2017
Invested : Feb 13, 2018

Sector

Wind Power - Renewable Energy Generation

Additional Project Attributes

Public-Private Partnerships

Project Description

Serbian WinCo d.o.o. (“Electrawinds Serbia” or the “Company”) is developing a 42 MW greenfield wind farm project near the town of Alibunar in the Banat region of Serbia (north-eastern part of the country, near the Romanian border) (the “Project”). If successful, the Project will become one of the first wind farms in the country.

The Company is a special purpose entity established solely for the development of the Project and is 100% owned by Electrawinds SE (“Electrawinds” or the “Sponsor”).

With its aspirations to join the EU, Serbia has incorporated renewable energy targets in its energy policy, and will be increasingly bound by these in future. At the same time, the region suffers from increasing energy deficits, which place a premium on domestic energy generation. IFC’s involvement in the financing of the Project is expected to provide strong support to the nascent renewable energy sector in Serbia.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation