Loan will be used for construction of largest green energy project in South East Europe

Sberbank Serbia provides EUR 10.2 MN for ELNOS

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Mag. Linda Michalech
Corporate Communications Manager

Sberbank Europe AG
Tel.: +43 1 22732 1300
Mobile: +43 664 8891 3662
linda.michalech@sberbank.at

Sberbank Serbia provides EUR 10.2 MN for ELNOS

Sberbank Serbia, a subsidiary of Sberbank Europe Group, has provided a EUR 10.2 million loan facility with a maturity of seven years to ELNOS Group for the construction of a wind farm in Kovin, Serbia. ELNOS acts as the contractor in the largest green energy project in South East Europe called “Cibuk 1 - Dolovo”. The total capacity of the windfarm project is 160 MV, which are produced by 57 wind turbines located in Kovin municipality, 30 km northeast from the Serbian capital Belgrade. Total investment costs of the project amount to EUR 270 million. The investor is Vetroelektrane Balkana; general constructors are General Electric and ELNOS BL Serbia.
Sberbank Serbia team (from left): Nenad Stojanovic, Senior Credit Analyst; Jelena Soljaga, Senior Underwriter; Zoran Pavlović, Head of SME department; Ana Jović, Team leader SME; and Milos Jevtovic, Senior Relationship Manager
Sberbank Serbia team (from left): Nenad Stojanov, Senior Credit Analyst; Jelena Soljaga, Senior Underwriter; Zoran Pavlović, Head of SME department; Ana Jović, Team leader SME; and Milos Jevtovic, Senior Relationship Manager
 

ELNOS is one of the leading companies operating in the area of electric power supply in South East Europe and a long-term client of Sberbank in Europe. Considering the significant potential of renewable energy sources in Serbia, we will continue providing our knowledge, expertise and tailor-made funding models for sustainable energy projects such as the wind farm in Kovin”, comments Zoran Pavlovic, Head of SME business at Sberbank Serbia.


About Elnos
With its 70 years’ history, Elnos Group is a leading company in the area of electrical power engineering. Elnos has realized numerous construction and modernization projects in South East Europe for facilities of up to 400 kV (within power stations, power grids, infrastructure projects, industry, and installations), such as the Mini Hydro Power Plant Bočac 2 in Bosnia and Herzegovina and the contact network and power plants for Serbian Railways.

About Sberbank Serbia
Sberbank Serbia is part of Sberbank Europe Group. It has a network of 33 branches in 21 cities across the country. Sberbank Serbia is a universal bank that provides its products and services to private individuals as well as to SME and large enterprises. In January 2017, Sberbank Serbia became the first bank on the market to join the prestigious international certification program Customers' Friend, underlining the bank’s high level of service quality and relationship with its customers and employees.

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