Fintel Energija is expanding its business activities into the Russian market
Belgrade, August 31, 2018. –Fintel Energija A.D. announced today that has established a country holding in Russia named Fintel Russian Ventures O.O.O. The company will design, build and operate 2 wind projects located in Ulyanovsk and Saratov regions on the Volga district.
The first wind farm will be erected in NovoulyanovskIndustrial Park and will consist of 6 turbines of 4.2 MW each for a total installed power of 25.2 MW.
The investment for the first project is estimated in 32 million Euros which will be financed trough a project financing according to international standards.
The NovoulyanovskWind farm will produce 75,6 GWh of clean energy per year, equivalent to the consumption of nearly 18.000 Russian households and will be completed within the end of 2020.
The second project, located in Saratov will consist of 65 wind turbines of the same type for a total installed power of 273 MW.
Fintel Energia Group SPA will finance the construction through the emission of a “Wind Bond” of 7 year duration.
'This crucial step brings our company out of the Balkans aiming to penetrate newly opened markets where our experience on the field has been recognized and highly appreciated' said Tiziano Giovannetti CEO of Fintel Energija A.D.
'We are excited - he continued - to expand our business in Russia where we see an enormous potential.
Please take a look at the following links that the media has published: