Masdar and Taaleri Energia Secure Financing for Čibuk 2 Wind Farm in Serbia

Masdar, a global leader in renewable energy, has partnered with Taaleri Energia to achieve financial close for the Čibuk 2 wind farm project in Serbia. The project, which will power 62,000 households, has secured a €144 million debt facility from commercial lenders UniCredit and Erste (Erste Group and Erste Bank Serbia).

Unlocking Serbia's Renewable Energy Potential

Expanding Masdar's Renewable Footprint in Serbia

The successful financing of the Čibuk 2 wind farm marks a significant milestone in Masdar's renewable energy expansion in Serbia. The project, which will comprise 22 Nordex 7MW turbines, will elevate Masdar's renewable capacity in the country to 312MW, making the Čibuk initiative the largest operational wind farm in Serbia. This aligns with Serbia's ambitious goal of achieving a 41% renewable energy capacity by 2030, underscoring Masdar's commitment to supporting the nation's clean energy transition.

Harnessing the Power of Wind

The Čibuk 2 wind farm is poised to make a substantial impact on Serbia's energy landscape. Once operational, the project is expected to offset 311,200 tons of carbon dioxide emissions annually, contributing to the country's efforts to reduce its carbon footprint and combat climate change. The wind farm's strategic location and grid connection to the existing Čibuk 1 wind farm, which was the largest of its kind in Serbia and the Western Balkans at the time of its completion, further enhances the project's efficiency and integration into the regional energy infrastructure.

Fostering Partnerships and Investor Confidence

The successful financing of Čibuk 2 is a testament to the strong partnership between Masdar and Taaleri Energia, as well as the growing investor confidence in Serbia's renewable energy sector. The project is being developed through Masdar Taaleri Generation, a joint venture between the two companies, alongside New Energy Solutions, an important Serbian developer. This collaborative approach not only leverages the expertise and resources of the partners but also demonstrates the potential for international cooperation to drive sustainable energy solutions in the region.

Nordex's Crucial Role

Nordex, a leading global wind turbine manufacturer, has been selected to supply the turbines for the Čibuk 2 wind farm and will also be responsible for the operations and maintenance of the project under a 35-year service agreement. This partnership ensures the project benefits from Nordex's extensive experience and technological expertise, further enhancing the wind farm's efficiency and reliability.

Aligning with Serbia's Renewable Energy Targets

The completion of the Čibuk 2 wind farm will be a significant step forward in Serbia's renewable energy journey. The project's contribution to the country's renewable energy capacity aligns with its ambitious goal of achieving a 41% renewable energy share by 2030. This milestone underscores Masdar's commitment to supporting Serbia's clean energy transition and its role as a strategic partner in the region's sustainable development.