Pupin wind farm

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This project comprises the construction and operation of a 94.5 MW wind farm, located in Vojvodina Province, Serbia. It is planned to have 16 wind turbines, which are able to supply clean, green electricity to more than 40,000 households. It also expected to reduce the carbon intensity of Serbia’s power sector and advance its green economy transition. The total investment costs stand at $156.11 million, of which the European Bank for Reconstruction and Development and Erste Group Bank provide $49.54 million loan each. The project company is Enlight K2-Wind, fully sponsored by Enlight Renewable Energy. THe sponsor was awarded a 15-year inflation-linked Contract for Differences following a tender process. The arrangement will be structured through a CFD mechanism in which the state-owned utility Elektroprivreda Srbije will secure a base rate of EUR 68.88 per MWh for 72% of the project’s output linked to Eurostat's Consumer Price Index. The remainder of the electricity produced will be sold on a merchant basis. Financial close was achieved on March 27, 2024. https://www.ebrd.com/work-with-us/projects/psd/54562.html ; https://www.ebrd.com/news/2024/ebrd-and-erste-approve-financing-for-new-windfarm-in-serbia-.html ; https://www.erstebank.rs/en/about-us/press/press-releases/2024/03/27/erste-and-ebrd-approve-financing-for-new-windfarm-in-serbia ; https://enlightenergy.co.il/news-api/enlight-secures-ppa-for-the-pupin-wind-farm-in-serbia-2/ https://www.ebrd.com/work-with-us/projects/psd/54562.html ; https://www.ebrd.com/news/2024/ebrd-and-erste-approve-financing-for-new-windfarm-in-serbia-.html ; https://www.erstebank.rs/en/about-us/press/press-releases/2024/03/27/erste-and-ebrd-approve-financing-for-new-windfarm-in-serbia ; https://enlightenergy.co.il/news-api/enlight-secures-ppa-for-the-pupin-wind-farm-in-serbia-2/