Erste Bank, along with Masdar and Taaleri Energia, has signed a financing agreement for the construction of the 154 MW Cibuk 2 wind farm in Kovin. This facility is projected to generate enough electricity for approximately 62,000 households and reduce carbon dioxide emissions by 311,200 tons annually, with operations slated to commence in the first quarter of 2026.
The total investment for the project is estimated at around €212 million, with approximately €144 million sourced from loans. Erste Bank Serbia is contributing just over €47 million, while the remainder is funded by Erste Group. This investment represents one of Serbia’s largest renewable energy projects and is a significant step towards the country’s goal of generating 41% of its electricity from renewable sources by 2030.
Cibuk 2 will build upon the existing Cibuk 1 wind farm, which currently supplies enough electricity for about 113,000 households, making Cibuk 2 the largest operational wind farm in Serbia upon completion.
