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FINTEL ENERGIJA News FIRST WIND PARK TO BE OPENED IN SERBIA

FIRST WIND PARK TO BE OPENED IN SERBIA

Kula, 12 November, 2015 – The company MK Fintel Wind has officially opened the wind farm Kula today, which is also the first wind farm in Serbia. It is a plant consisting of the three 178 meters high wind generators in which construction we have invested 15 million euros. The host of the event, Tiziano Giovannetti, Executive Director of Fintel Energia Spa and MK Fintel Wind, in the presence of Aleksandar Antić, Minister of Mining and Energy, investors and numerous officials, has officially opened the first wind farm in Serbia and expressed satisfaction with the project's realization and the fact that accomplishment of the project in new areas such as green energy in Serbia is not only possible, but can also be successful.

"The event we are witnessing today is crucial for the energy sector for Serbia. After several years of waiting for necessary permits, we are pleased that this "green-field" investment has finally been realized in Serbia. This is a confirmation of our strategic commitment to development in the Serbian market and we have an ambitious development program, additional projects that we are planning to implement in the upcoming period and a large number of foreign investors interested in partnership with us. Everyone will benefit from the work of the wind farm, the state and the society, the Municipality of Kula, we as a company and above all consumers," said Tiziano Giovannetti, Executive Director of Fintel Energia Spa and MK Fintel Wind.

The wind farm Kula, which will supply the Serbian electricity network, consists of three wind generators with installed power of 9.9 megawatts (MW). Wind generators, which are also the highest in Southeast Europe, will produce about 27,000,000 Kwh (kilowatt-hours) of green energy, which is sufficient for the needs of nearly 8,000 households. In the preparation of works, concrete and steel from Serbia were used, domestic companies and design companies were engaged, while Erste Bank took part in the financing of the project.

"Financing renewable energy projects is one of Erste Bank's strategic priorities. So far, we have invested around € 55 million in green projects and the cooperation with MK Fintel Wind has brought us a new experience, bearing in mind that this is the first wind farm we have financed. Good examples of cooperation between Erste Bank and investors give us all the wind in our sails to continue this practice in the future,"said Slavko Carić, President of the Erste Bank Executive Board.

The company MK Fintel Wind, whose main activity is the production of green electricity, will soon begin with the construction of the second wind farm with a total value of 11 million euros. The second wind farm will be located near Vršac and will supply the green if around 5.500 households. In addition to increasing the total energy capacity in Banat, Vojvodina and the Danube region, the company has plans to invest in wind energy in Serbia and the region.

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