Home Cibuk Wind Farm (Tesla Wind d.o.o.) Cibuk Wind Farm (Tesla Wind d.o.o.) In brief Cibuk is the largest wind project in Serbia to date. It is located 45 kilometres northeast of Belgrade, covering 3700 hectares of land partially owned and leased. The 158 MW wind farm will consist of 57 GE turbines and produce up to 475 GWh of electricity annually. Taaleri Tesla Ky is a joint shareholder (30 percent) in Tesla Wind d.o.o. with Masdar (60 percent) and DEG (10 percent). IFC and EBRD are providing the debt. Cibuk has been under construction since March 2017 and is expected to be in full production in June 2019. Main development impact By generating renewable energy, the Cibuk Project supports one of the key priorities of Finland’s development cooperation. It supports Serbia in meeting its increased energy needs and fulfilling its renewable energy targets agreed upon with the EU as part of the pre-accession process. Once operational and depending on a year, the Cibuk Project is estimated to generate approximately 1.5% of the total electricity consumption in Serbia. The wind farm’s estimated annual production is up to 475 GWh, corresponding to an amount consumed by approximately 110,000 Serbians per year (4,272 kWh per capita). The project is estimated to decrease greenhouse gas emissions by displacing 370,000 tonnes of carbon dioxide emissions each year. The employment effect during construction is estimated to be around 100 persons. Payments to the government are expected to be, on average, 2.5 million euros. Investment details Name: Cibuk Wind Farm (Tesla Wind d.o.o.) Project number: 80000040 Region: Europe and Central Asia Country: Serbia Sector: Energy Signing date (month/year): October 2017 Currency: EUR Finnfund's financing (commitment): 10,740,971 Size of the project financing: EUR 303,000,000 Share of Finnfund's financing (%): 3.50 % Status: Active Website: http://www.teslawind.rs/en/about-us/wind-park-cibuk Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.October Read our transparency and disclosure policy More information: News Current investments Business sectors Contact us Key facts Name: Cibuk Wind Farm (Tesla Wind d.o.o.) Sector: Energy Region: Europe and Central Asia Country: Serbia Currency: EUR Finnfund's financing (commitment): 10,740,971 Signing date (month/year): October 2017 Last update: May 2019