Business Ecology

Serbian MK Group and Slovenian Alfi Green Energy Fund to invest EUR 155 mln in Krivaca wind farm

MK Group and the Slovenian investment fund Alfi Green Energy Fund announced a EUR 155 mln investment Krivača wind farm, with the new installation to be operational by the end of 2023.

“MK Group has been investing in renewable energy sources for years and our long-term strategy is further expansion in this area,” said Mihailo Janković, CEO of MK Group in  a press release cited by “We are working on the development of wind energy projects with a total capacity of over 320 MW, as well as solar energy with a capacity of 660 MW, which are investments worth close to one billion euros planned for the next five years, which we are realizing through joint ventures and solo investments.”

The 56-square kilometer, 105.6 MW wind farm will be located in the Golubac district and will have 22 wind turbine. It will provide 310 GWh of green electricity annually. This is equivalent to supplying about 75,000 households and reducing carbon dioxide emissions by about 115,000 tons per year.

The new farm will be financed by Erste Group Bank AG, Erste Bank a.d. Novi Sad, Raiffeisen Bank International AG, Raiffeisen bank a.d. Beograd, NLB d. d., NLB Komercijalna banka a.d. Beograd, and OeEB -the Development Bank of Austria, according to the release.

“The financing of the Krivača wind park marks a major milestone for Serbia’s energy landscape and we are hopeful that more such landmark steps will follow to expand the role of renewable energy in Southeastern Europe,” said Erste Group Head of Corporate Finance Wolfgang Hargassner.. “Realizing Krivača was only possible due to the strong commitment of all involved parties, including the investors, banks, advisors, the power offtaker, the turbine supplier, and many others.”

MK Group is Serbian holding company that focuses on the agriculture, banking, and tourism sectors. The company was established in 1983 and is currently active in Serbia, Slovenia, Croatia and Montenegro.

MK Group headquarters photo by AirWolf, CC BY-SA 4.0 <>, via Wikimedia Commons.

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