The Čibuk 2 wind farm, set to generate 154 MW of electricity, represents a total investment of approximately 212 million euros, with around 144 million euros secured through loans.
Located roughly 40 kilometers from Belgrade in the Kovin municipality, this wind farm will supply electricity to approximately 62,000 households and reduce carbon dioxide emissions by 311,200 tons annually.
The wind farm is scheduled to begin operations in the first quarter of 2026, as announced by Erste Bank.
Erste is financing half of the total investment, contributing over 47 million euros through Erste Bank Serbia, while the remainder will be funded by Erste Group. At a recent ceremony in Vrdnik, the financing agreement for the project was signed with partners Masdar from the UAE and Taaleri Energia from Finland, in collaboration with New Energy Solutions, a leading development company in Serbia.
“This project is especially significant for us, as it marks our largest single green investment to date. Čibuk 2 will also be the sixth wind farm we finance in Serbia,” stated Nikola Stamenković, a member of the Executive Board of Erste Bank Serbia.
“We are proud to contribute actively to the green transition and the sustainable development of energy sources in our country, in line with our banking group’s sustainability strategy. Each new green project in our portfolio not only represents a business success but also an opportunity to build a better future for all, including future generations,” he added.
This investment is one of the largest renewable energy projects in Serbia and a crucial step toward achieving the government’s goal of sourcing 41% of electricity from renewable resources by 2030.
Čibuk 2 will expand on the existing Čibuk 1 wind farm, which already produces enough electricity to power around 113,000 households.
Once completed, Čibuk 2 will become the largest operational wind farm in Serbia, aiding in the reduction of carbon emissions and enhancing energy stability in the country.
With investments in over 70 green projects to date, Erste Bank Serbia has played a vital role in decreasing harmful gas emissions, increasing electricity generation from renewable sources, and positively impacting local communities and households. Erste Group remains committed to supporting renewable energy projects not only in Serbia but throughout the wider region.
