Serbian lender AIK Banka said it has provided unspecified financial support for the construction of the Kosava wind farm by MK Fintel Wind, a joint venture of Serbian vertically integrated conglomerate MK Group and Italy's Fintel Energia Group.
AIK Banka plans to keep supporting actively the development of other wind farms by MK Fintel Wind across Serbia, the bank said in a statement on Thursday.
By providing financing for such projects, AIK Banka keeps supporting the growth and the competitiveness of the real sector of the Serbian economy, the managing director of the bank, Jelena Galic, said in the statement.
Kosava contributes to the development of the electricity system of Serbia and will increase the production of power from renewable sources, Galic added.
MK Fintel Wind, a 46/54 joint venture between MK Group and Fintel Energia Group, said on Wednesday it has started the construction of Kosava, its third wind farm, and expects to complete its first phase of the project by the end of 2018.
The company was set up in 2008 and already operates two wind farm in Serbia, with a combined installed capacity of 16.5 MW.