Construction of the wind farm, which will have a capacity of 106 MW and will produce 310 GWh of electricity annually, began at the end of last year. It is expected to be fully operational by the end of 2023.
The wind farm will comprise 22 wind turbines which will be supplied by Germany's Nordex Group. It will supply electricity to up to 75,000 households and will reduce CO2 emissions by around 115,000 tonnes annually.
Four banking groups are financing the project: Erste Group Bank and Novi Sad-based Erste Bank, Raiffeisen Bank International and its Belgrade-based unit Raiffeisen bank, Slovenia's NLB and Belgrade-based NLB Komercijalna banka, and OeEB – the Development Bank of Austria.
The Krivaca wind farm is the first renewable energy project in Serbia including a commercial power purchase agreement (PPA), which was concluded with the Swiss renewables producer and trader AXPO.
