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European development bank lends €58M to 105-MW wind farm in Kosovo

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European development bank lends €58M to 105-MW wind farm in Kosovo

The European Bank for Reconstruction and Development is providing a loan of €58 million to help finance the construction and operation of the 105-MW Bajgora wind farm in northern Kosovo.

The loan covers half of the required financing for the facility; Erste Group Bank and NLB Bank are providing the rest, according to a Dec. 16 news release. Germany's Euler Hermes is providing export credit cover.

Sowi Kosovo LLC will own, build and operate the wind farm in Mitrovica municipality. The company is majority-owned and controlled by Israel-based Enlight Renewable Energy Ltd., together with its German and Kosovan partners.

Once completed, the project will raise the renewable installed capacity in Kosovo to more than 200 MW, moving the country closer to its target of reaching 400 MW by 2026.