Two European banks have agreed a finance package worth €91.4 million to help Israeli developer Enlight Renewable Energy build a wind farm in Serbia.
The European Bank for Reconstruction and Development (EBRD) and Austria’s Erste Group Bank will each provide €45.7 million in debt to Enlight.
Enlight plans to build the 94MW Pupin project – named after Serbian scientist Mihajlo Pupin, who helped found NASA – in the Vojvodina province in the north of the country.
It is expected to start commercial operations in the second half of 2025.
The wind farm is expected to cost €163.6 million, with Enlight due to provide the remainder of the financing.
Enlight had secured a power deal for Pupin in Serbia’s first renewable energy auction last year.
Serbia is due to hold further 300MW wind power auctions this year and next.
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