Green Star collaborates with Wellbury to develop a 120 MW wind farm in North East Serbia
Green Star Alternative Energy, Inc. has announced that an agreement to develop a 120 MW wind farm has been reached with Wellbury Infrastrukturberatungsgesellschaft GmbH.
A corporate structure is being created for this endeavour in a new Serbian subsidiary company, whose ownership will be maintained by both Green Star and Wellbury. The terms of the agreement include a joint 50-50 title, with complete recoupment of all expenditures by Green Star before any division of profits.
This advanced stage project is to be sited in North East Serbia – specifically in the Municipality of Pancevo, District of Banat, within the Autonomous Province of Vojvodina. Over 28 months of wind resource data has been accumulated over three micro locations and the results indicate a significant energy potential of 120 MW. A “Protocol of Cooperation” has been signed by the City of Pancevo, Secretariat of Energy for AP Vojvodina, and the Serbian Energy Efficiency Agency; and a license for grid connection is in process by the national transmission operator (EMS).
Dr. Miodrag Obradovic, CEO of Wellbury Infrastrukturberatungsgesellschaft GmbH, commented: “An alliance with Green Star Alternative Energy is a perfect fit for Wellbury. Green Star is dynamic team with an impressive vision for this burgeoning wind energy industry in Serbia.”
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Related categories: Eco-friendly Power generation Wind power
