Serbia’s MK Group plans to invest 900 million euros in renewable energy projects by 2026.

by Cristian Florescu

MK Group, a Serbian diversified conglomerate, announced that it will inaugurate the Krivaca wind farm, valued at 165 million euros ($180 million), in May. The company also disclosed its intention to invest 900 million euros in 1 gigawatt of green energy projects by 2026.

During the Kopaonik Business Forum in Belgrade, the director general of MK Group, Mihailo Jankovic, announced the completion of three wind parks in Vojvodina and the upcoming opening of the first wind park in eastern Serbia, Krivaca, in May. Additionally, Jankovic mentioned that the company is currently engaged in the development of the Kula agro-solar project.

The Krivaca wind farm, with a capacity of 106 MW, is a collaborative venture between MK Group and the Slovenian investment fund Alfi Green Energy. Construction commenced in late 2022, with an estimated annual electricity generation of 310 GWh. The wind farm will incorporate 22 wind turbines from the German manufacturer Nordex.

In February 2023, Jankovic disclosed that MK Group, under both independent and collaborative efforts, is involved in the advancement of 320 MW wind energy initiatives and 660 MW solar energy initiatives. These ventures represent an investment of approximately 1.0 billion euros for five years.

During that period, he observed that MK Group was participating in the inaugural agro-solar endeavour in the Balkans, boasting a capacity of 600 MW and currently in progress in the municipality of Kula, situated in Vojvodina.

Thus far, MK Group has been involved in the development of three wind farms located in the northern region of Vojvodina. These include the Kula wind farm with a capacity of 9.9 MW, the La Piccolina wind farm with a capacity of 6.6 MW, and the Kosava wind farm with a capacity of 69 MW, which was jointly developed with Fintel Energija, the Serbian subsidiary of the Italian Fintel Energia Group.

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