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CWP/WEBG – Cibuk Wind Park 318 MW – Vojvodina - Project Profile

  • Published Date: 31 Mar 2018
  • Number of Pages: 9
  • Category: Construction
  • Country: Serbia

Synopsis


"CWP/WEBG Cibuk Wind Park 318 MW Vojvodina - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "CWP/WEBG Cibuk Wind Park 318 MW Vojvodina - Project Profile" is part of Timetrics database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary


Wind Energy Balkan Group (WEBG) alias Vetroelektrane Balkana d.o.o., owned by Tesla Wind and Continental Wind Partners LLC (CWP) are undertaking the construction of a wind park in Vojvodina, Serbia.

The project involves the construction of 318MW wind farm and planned to be implemented in two phases of 158MW and 160MW respectively.

The first phase called as Cibuk 1 involves the construction of 158MW wind park with an investment of US$350 million includes the installation of 57 wind turbines 2.78 MW each supplied by General Electric.

The Cibuk 1 wind farm is being developed by Vetroelektrane Balkana, owned by Tesla Wind which is a 60:40 joint venture between Masdar, and Cibuk Wind Holding, a subsidiary of Continental Wind Partners.

The second phase is a 160MW Cibuk 2 wind park with an investment of US$199 million.

It will include the construction of a 400kV substation, wind tower foundations, and access roads, the installation of generators, turbines and transformers and the laying of transmission lines.

Energy Saving Group has been appointed as study and design consultant, and General Electric as supply and EPC contractor for Cibuk 1. WS Atkins International Limited (Atkins) on behalf of the WEBG is undertaking the Environmental and Social Impact Statement.

The project will be funded through European Bank for Reconstruction and Development (EBRD), Istanbul Financial Center Initiative (IFCI) and Overseas Private Investment Corporation (OPIC).

In 2008, CWP conducted wind analysis in Kovin area in order to determine the viability.

CWP received approvals from the government to implement it in two phases of 171MW and 129MW in May 2013. However, the approvals were revoked by the government departments in 2014.

CWP submitted revised plans to the government in February 2014 and a consortium of Austrian Porr and Elnos was appointed as BOP contractor for Cibuk 1 in May 2014.

CWP received a new construction permit for Cibuk 1 on June 23, 2014.

Masdar signed 12-year power purchasing agreement (PPA) with a subsidiary of the state-owned power company Elektroprivreda Srbije (EPS) for Cibuk 1 wind farm on October 27, 2016.

In October 2017, EBRD and the International Finance Corporation (IFC) approved US$253 million syndicated loan for Cibuk 1 wind farm. The EBRD is providing a US$127.08 million syndicated loan, of which US$64.9 million is syndicated to Erste Bank, the Green for Growth Fund, UniCredit, and Banca Intesa under an A/B loan structure. In parallel, the World Banks IFC is providing US$127.08 million, partially through its Managed Co-Lending Portfolio Program and partially through syndicated B loans.

In November 2017, Kinstellar has been appointed as legal advisor by Wind Energy Balkan Group (WEBG).

Construction works are underway.

Scope


The project involves the construction of a 318MW wind park in Kovin municipality, Vojvodina, Serbia.

The US$550 million project includes the following:

1. Construction of a 400kV substation

2. Construction of wind tower foundations

3. Construction of access roads

4. Installation of 57 wind turbines

5. Installation of generators

6. Installation of transformers

7. Laying of transmission lines

Reasons To Buy


Gain insight into the project.

Monitor the latest project developments.

Identify key project contacts.

Publisher Name : Timetric

1.Key Statistics
2.Key Dates
3.Sector
4.Operating metrics
5.Tender Information
6.Scope
7.Description
8.Latest update
9.Background
10.Key Contacts
11.General News, Project News
12.Appendix



Synopsis CWP/WEBG Cibuk Wind Park 318 MW Vojvodina - Project Profile contains information on the scope of the project including project overview and location. The profile also details project

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