Fintel Energija, a Serbian subsidiary of Italian Fintel Energia Group, has announced the establishment of an enterprise in Russia with the purpose to implement two wind energy projects, Renewables Now reports.
Fintel Russian Ventures, which is the Russian unit of the company, will build and manage two wind farms with an installed capacity of 25.2 MW and 273 MW. The projected wind farms will be located in the Ulyanovsk and Saratov regions, respectively, Fintel Energija reports in an e-mail message.
Fintel Russian Ventures is going to invest 32 million euros ($37.1 million) in the Ulyanovsk wind power plant, which will be built in the Novoulyanovsk industrial zone and will be equipped with six turbines with a capacity of 4.2 megawatts each. The construction of the wind power plant is scheduled to be completed in 2020.
According to Fintel Energija, the Saratov wind power plant will include 65 turbines.
The parent company Fintel Energija intends to issue seven-year bonds to fund the wind farm projects. Earlier, in July, Fintel Energija launched an initial public offering (IPO) on the Belgrade Stock Exchange.