A line of credit has been established for the construction of a €300m wind farm in Cibuk. Cibuk 1 will be developed by Vetroelektrane Balkana, owned by Tesla Wind following the €215m loan deal, completed with the European Bank for reconstruction, the International Finance Corporation and Vetroelektrane Balkana. The investor is a joint venture between Masdar from Abu Dhabi and Cibuk Wind Holding, a subsidiary of the US wind-energy developer Continental Wind Partners. The 158 MW wind farm will be built in North Serbia, 50km from Belgrade, with 57 wind turbines planned. The completion is planned by the end of 2018. It would produce up to 457 GWh of electric energy a year. It represents the biggest commercial project in wind energy in the western Balkans, providing enough electricity for approximately 113,000 households. In addition to reducing CO2 emissions by more than 370,000 tons, the project will create new 400 jobs and result in the construction of 30km of new roads
