•  
  •  
  •  

France's Akuo Energy, IEL Energie sign MoU to develop wind farm in Serbia

Author: Raymond Shobe.

BELGRADE (Serbia), July 17 (SeeNews) - France's Akuo Energy and IEL Energie have signed a memorandum of understanding (MoU) with Serbia's autonomous province of Vojvodina for the construction of the Basaid wind farm, Serbian energy minister Aleksandar Antic said.

The French renewable energy companies signed the MoU in the framework of the visit of French president Emmanuel Macron to Serbia, Antic said in a press release on Tuesday.

Serbia connected to the grid 500 megawatts of renewable energy facilities in the last two years and a half and attracts a significant interest in the sector, Antic said.

In 2014, Serbian company IEL OIE Balkan Renewable Energy, a subsidiary of IEL Energie, announced plans to invest 70 million euro ($78.5 million) in the construction of the 48 MW Basaid wind farm near the town of Kikinda, in Vojvodina. However, the launch of the project was delayed due to the lack of adequate road infrastructure in the area.

In November 2017, Akuo Energy and Austria's Ivicom launched the 72 MW Krnovo wind farm in neighbouring Montenegro via their Montenegrin subsidiary Krnovo Green Energy. The project had an estimated cost of 120 million euro, with 48.5 million euro coming from a senior loan extended by the European Bank for Reconstruction and Development.

In January 2018, Akuo Energy signed an agreement to sell a 49% stake in Krnovo Green Energy to Abu Dhabi-based Masdar.

($ = 0.891788 euro)

More stories to explore
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription