Ownership transfer for Alibunar wind development
Heavy Energy International has acquired a controlling interest in Serbia’s 168 MW Alibunar wind farm project in the South Banat region. The transaction transfers a 90% ownership stake to a Hong Kong-based company that is part of Chinese turbine manufacturer SANY Renewable Energy. After the deal closes, Heavy Energy International will take strategic responsibility for the project’s implementation and future development.
The sale follows a process that began in early 2025. Under the new ownership structure, Dutch-Belgian developer WV International retains a 10% minority stake. Norwegian renewable energy company Emergy has fully exited the project after selling its interests, and financial details have not been disclosed.
Alibunar 1 and Alibunar 2 capacity and expected output
The acquisition covers development rights for both Alibunar 1 and Alibunar 2, which together total 168 MW of planned wind generation capacity. Once operational, the two projects are expected to produce approximately 480 GWh of renewable electricity annually. The expected generation is tied to Serbia’s clean energy objectives as described in the transaction materials.
The wind complex is expected to use SANY S168 wind turbines with an individual capacity of 4.2 MW. This is intended to expand SANY’s presence in Southeast Europe’s renewable energy markets.
Auction support and power purchase agreement with EPS
The project’s investment case includes participation in Serbia’s renewable energy auction program. The wind farm secured market premium support and will sell its future electricity output to state-owned utility EPS under a 15-year power purchase agreement (PPA). The long-term contract is described as providing stable revenue visibility for the project.
Emergy and WV International have monetized one of their most advanced Serbian projects, while both companies plan to remain active in the country. Their development strategy includes a portfolio of wind energy projects totaling nearly 700 MW, including additional large-scale developments across the Banat region.
