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EBRD-backed wind farm in Serbia starts operating

The 158-MW Čibuk 1 wind farm, developed by Vetroelektrane Balkana d.o.o., has started operating in Serbia.

The €300 million project received financial support from the European Bank for Reconstruction and Development, or EBRD, and the World Bank's International Finance Corp. EBRD arranged a €107.7 million syndicated loan and IFC provided €107.7 million.

Čibuk 1, described as the biggest wind energy project in Serbia and the Western Balkans, will help support Serbia's goal to increase the share of energy consumption from renewable sources to 27% by 2020.

Vetroelektrane Balkana is owned by Tesla Wind d.o.o., a joint venture of Masdar, the Taaleri Energia Oy-managed Taaleri SolarWind I fund and the German development finance institution DEG - Deutsche Investitions- und Entwicklungsgesellschaft mbH.