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.