Masdar, the leading provider of clean energy in the United Arab Emirates, announced the financial conclusion of the 154 megawatt (MW) Cibuk 2 wind farm in Serbia.
The financial close agreement was signed in front of Masdar’s CEO, Mohamed Jameel Al Ramahi, Taaleri’s Group CEO, Peter Ramsay, Taaleri Energia Managing Director, and Serbia’s Minister of Mining and Energy, Dubravka Djedovic Handanovic, during a special ceremony held in conjunction with RES Serbia 2024.
Commercial lenders UniCredit and Erste (Erste Group and Erste Bank Serbia) have provided non-recourse project financing for Cibuk 2, securing a EUR 144 million lending facility that attests to the viability and feasibility of renewable energy projects in Serbia.
Together with New Energy Solutions, one of Serbia’s top developers, Masdar and Taaleri Energia have built Cibuk 2 under their joint venture development vehicle, Masdar Taaleri Generation. Under a 35-year contract, Nordex is delivering the turbines and will also handle project management and maintenance.
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