China’s Windey to supply turbines for 110 MW wind farm projects in Serbia

BELGRADE (Serbia), January 18 (SeeNews) - Chinese manufacturer Zhejiang Windey signed a deal with Serbia’s Fintel Energija for the delivery, assembly and maintenance of wind turbines for wind farm projects totalling 110 MW, Fintel said on Wednesday.

The agreement will see the supply of turbines for phase two of the Kosava project as well as the Kula 2,3 and 4 projects, in northern Serbia and the RAM project in eastern Serbia, Fintel said in a press release, without specifying the value of the deal.

Windey has been contracted to supply 28 turbines for the projects - nineteen WD164 3.6 MW turbines, three WD 164 3.3 MW turbines and six WD172 5 MW turbines.

The agreement also includes a ten-year service and maintenance agreement, a move that will see Windey will open a local service arm headquartered in Belgrade.

“This highlights our ability to build value in our portfolio projects, by advancing them to more mature stages and higher valuations,” said Fintel Energija CEO Tiziano Giovannetti.

Fintel Energija is the Serbian subsidiary of Italy's Fintel Energia Group, and diversified holding MK Group.

Shares in Fintel Energija last traded at 630 dinars ($5.82/5.37 euro) on the Belgrade Stock Exchange, bourse data showed.

Windey is a state-owned enterprise, which provides customised wind energy solutions for global clients, mainly focusing on wind turbine research and design, operation and maintenance.

(1 euro = 117.396 dinars)