June 21, 2024
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HomeNews Serbia EnergyKinstellar Advises China's CMC Capital and SEP on Serbian Wind Farm Venture

Kinstellar Advises China’s CMC Capital and SEP on Serbian Wind Farm Venture

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Kinstellar has advised Chinese investors CMC Capital and Shanghai Electric Power & Energy Development Limited on the acquisition of Crni Vrh Power, a project company developing a 150-megawatt onshore wind farm in the eastern Serbian municipalities of Bor, Zagubica, and Majdanpek.

CMC Capital is a member of the China National Technical Import and Export Corporation group.

According to Kinstellar, “the Crni Vrh wind farm was purchased ‘ready-to-build’ – which means that all essential permits and land rights were secured prior to the start of the construction phase, which includes 28 wind turbines. With this acquisition, CNTIC and SEP have entered Serbia’s renewable energy sources market for the first time. The companies formed a joint venture for the deal, with SEP holding 51% and CNTIC holding 49% of the shares.”

The Crni Vrh wind farm is scheduled to begin commercial operations in 2025, with an expected annual electricity generation of 480 million kilowatt-hours.

As previously reported Clarion Partners Owners Engineer the regional consulting and engineering company, has been appointed as owner’s engineer for the delivery of EPC Wind park 150MW project to be built in Eastern Serbia. 

This state-of-the-art low-carbon wind park will reduce Serbia carbon footprint in the energy industry. Wind Park project development project was conducted in the past years, being unique green power generation projects to be built on the most challening mountain locations in eastern Serbia but with highest measured wind and expected maximum utilisation of annual power production. Transmission lines with three export lines will enable sustainable electricity trading for its owners.

As owner’s engineer, Clarion will provide technical and engineering oversight services for the duration of the project to monitor and assess the work in progress, ensuring the Engineering, Procurement and Construction contractor delivers work consistent with the project’s requirements.

Branimir Stojanovic, founding partner of Clarions Partners said: “This win demonstrates Clarions ability to be leaders in decarbonisation and the energy transition. We are excited to be working with institutional client on an innovative project that is very closely tied to Serbia economy and the country’s transition to a low-carbon future.”

Clarion Partners Owners Engineer is recognised as an industry leader in energy and decarbonisation, and will play such a key role in the successful execution of this project. Being the lead on the development of project until ready to build phase, Clarions experts will simply continue the implementation of clients strategy and its European market developments. 

Clarion Owners Engineer expert network includes experienced expert design and engineering teams with proven track record in heavy industry, energy, mining and enviromment projects.

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