Milos Colic, President of the Board of Directors of RES Serbia, announced that the Pupin wind farm has been successfully connected to the transmission network, with its first electricity set to enter the system shortly.
In March 2024, Israeli investor Enlight Renewable Energy confirmed it had secured €91.4 million in loans to construct and operate the 94 MW wind farm, marking its second project in Serbia. The financing includes a €45.7 million loan from both Austrian Erste Bank and the European Bank for Reconstruction and Development (EBRD), along with associated debt service reserve facilities.
Located in the northern province of Vojvodina, the Pupin wind farm will be situated next to Enlight’s first facility in the country, the 105 MW Kovacica wind farm, allowing both to share a network connection. In October, Enlight signed a 15-year power purchase agreement (PPA) with state-owned utility EPS for 72% of the wind farm’s output, priced at €68.88/MWh, following Serbia’s inaugural renewables auction. The remainder of the energy produced will be sold on a merchant basis. The wind farm is anticipated to begin commercial operations in 2025.
