BELGRADE (Serbia), January 3 (SeeNews) - Serbia's energy regulator has given the green light to state-owned power utility Elektroprivreda Srbije (EPS) for the construction of a 66 MW wind farm in Kostolac, in eastern Serbia, the company's managing director Milorad Grcic said.
"We expect the construction of the wind farm to begin in the third quarter of 2019," Grcic said, as quoted in a statement by EPS earlier this week.
In 2017, EPS said it plans to invest 97 million euro ($110.4 million) in the construction of the wind farm. The company signed an agreement for a 80 million euro KfW loan for the construction of the wind farm. The loan will have a grace period of four years and will carry a 0.85% annual interest rate.
Renewable energy sources should account for 27% of Serbia's total installed power capacity by 2020 and the launch of new wind farms contributes to achieving this goal, energy minister Aleksandar Antic said back then.
($ = 0.8787 euro)