Loan for construction of 105 MW wind farm pending board approval
The European Bank of Reconstruction and Development said on Friday a loan of 55 million euro ($60.3 million) to finance the construction of a 105 MW wind farm in Kosovo’s northern municipality of Mitrovica has passed final review and is awaiting board approval with a target date of December 11.
The project will be implemented by Sowi Kosovo LLC, a special purpose vehicle established for the project, owned by Enlight Renewable Energy together with its Kosovo and German partners, the EBRD said in a press release.
The project's total cost is 157 million euros.
According to the EBRD, the project will contribute to climate mitigation by increasing the share of renewable energy generation in Kosovo and add 105 MW of wind generation capacity to the national energy system.
The project will significantly increase the share of electricity generated by wind power in Kosovo, which is otherwise largely reliant on coal-fired power generation, as well as support the green transition quality, contributing to the reduction of CO2 emissions in the country.