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Masdar + Taaleri reach financial close on 154 MW Serbia wind farm: Renewables giant Masdar and Finnish renewables investment firm Taaleri have reached financial close on the second phase of the 154 MW Čibuk 2 onshore wind farm in Serbia, according to a statement (pdf). The wind farm will receive a EUR 144 mn debt facility from UniCredit and Eastern European lender Erste.
About the plant: The Čibuk 2 utility scale onshore wind farm is being developed under a joint venture between the two named Masdar Taaleri Generation, acting as a development vehicle for renewable energy projects in Serbia and Montenegro. The plant will be located in Vojvodina province on about 4.8k hectares of land, and will generate 400 GWh per annum offsetting 311k tons of carbon emissions per year. Construction began this year and the plant is set to begin operations by 1Q 2026.
Not the pair’s first collaboration: The 158 MW Čibuk 1 wind farm was inaugurated in October 2019 and is the largest utility-scale commercial wind project in Serbia and the Western Balkans. It was developed under a joint venture between Masdar (with 60% ownership), Taaleri Energia, and the investment arm of KfW, DEG. Masdar and Taaleri also inaugurated the 200 MW Baynouna Solar Park in Jordan back in February 2023. The USD 260 mn project generates 560 GWh of electricity a year and offsets 360k tons of CO2 emissions, making it the largest clean energy project in Jordan.
