The project, which will be implemented by joint venture NIS Energovind, will feature 34 wind generators of 3MW capacity each and generate around 212GWh of electrical power annually.
NIS Energovind is negotiating with companies/suppliers for critical equipment for the project and is likely to select the preferred vendor by the end of 2013.
Of the total project cost of €160m, up to €23m will be funded by NIS, while the other partners and credit resources will provide the remaining amount.
The project, which is expected to be built in 12 months that is by the end of 2014, will sell its output to the public company Elektroprivreda Srbije.
NIS CEO Kirill Kravchenko said that the project will help Serbia to meet the European mandatory energy policy requirements and significantly contribute to the clean energy share in the country’s total energy mix.
"Generating electricity from a renewable source we reduce both environmental risks and our own costs, which is extremely important in a difficult economic situation," Kravchenko added.
