Renewable Energy Project Kostolac

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As part of the project, a wind farm with a capacity of up to 66 MW is to be built at the Kostolac site. The wind farm is to be built on the waste area of the Kostolac coal mine, which has been closed for decades. The objectives of the FC measure are (i) to increase the share of renewable energies in Serbia's electricity generation, (ii) to avoid climate-impacting CO2 emissions and (iii) to diversify energy sources. The overarching development policy objective is to promote sustainable economic growth and social development, as well as environmental and climate protection in Serbia. The target group is the population of Serbia connected to the interconnected grid. The project sponsor is Serbia's state-owned energy producer and distributor, Electric Power Industry of Serbia - EPS. The total cost of the project, including the costs for the implementation consultant, was estimated at around EUR 96 million, which will be financed with an FC development loan of EUR 80 million. The remaining amount will be raised by EPS itself. Due to the pilot nature of the project and the project sponsor’s lack of know-how in the new technologies, funds of EUR 1 million are earmarked for an accompanying measure