Serbia, October, 14 2019 - Serbian company Vetroelektrane Balkana (WBEG), a joint venture of UAE-based Masdar, Taaleri Energia and German development finance institution DEG, has officially opened Cibuk 1, the largest utility-scale commercial wind project in Serbia and the Western Balkans, Masdar said.

WBEG has invested 300 million euro ($331 million) in the construction of the 158 MW wind farm, located 50 km northeast of Serbia's capital Belgrade, which will provide sustainable, emissions-free power to 113,000 homes, displacing about 370,000 tonnes of carbon dioxide (CO2) per year, Masdar said in a statement on Friday.

"Cibuk 1 is not only a bold statement as to Serbia’s long-term renewable energy ambitions and its commitment to modernise its power sector, but also an investment in Serbia’s energy security," the CEO of Masdar, Mohamed Al Ramahi, said.

WEBG, the project company behind Cibuk 1, is wholly owned by Tesla Wind, a joint venture between Masdar (60%), Taaleri Energia (30%), and DEG (10%).

"Together with the associated infrastructure expansion and local community programmes, the wind farm will not only contribute to the economic growth in Serbia but will also have a positive impact on the economic development in the region," senior director for the Middle East, Europe, Central Asia and Asia of DEG, Turan Caglayan, said in the statement.

The project supports Serbia’s pledge to produce 27% of its domestic power needs from renewable energy sources by 2020, while helping to reduce its dependence on coal-fired power generation. Cibuk 1 also created 400 local jobs during construction and delivered 50 km of new roads in the surrounding area.