Table of Contents Table of Contents
Previous Page  47 / 48 Next Page
Information
Show Menu
Previous Page 47 / 48 Next Page
Page Background

south-east european

INDUSTRIAL MARKET 27

SEE BUSINESS

Companies in this issue

Comet Electronics ................. 1, 10, 11

EM-TEK ......................................... 12

Endrich .......................................... 19

Energoeffect Consult ...................... 15

Europe Metal Works Bulgaria ......... 28

IEC ............................................ 8, 23

IOW Bulgaria .................................. 20

IVAS Tech...................................... 17

Jaksa ............................................... 2

Microchip Technology ...................... 5

Odak Europe PCB ............................ 9

Re-Atlantis Enterprise Co. .............. 22

SAT ........................................... 1, 21

Steiner Elektronik ........................... 12

SpaceCAD ..................................... 25

Spesima ......................................... 13

Tremol ............................................. 6

TTI ................................................. 13

Via Expo ........................................ 23

SEE Business

Albanianmetal productsmanufacturer receives funding for ex-

pansion

Albania's leading local manufacturer of fabricated metal products APM has received

significant financing from the European Bank of Reconstruction and Development

(EBRD) and the Enterprise Expansion Fund (ENEF). APM is a fully owned subsidiary of

Alb-Star Sh.p.k., one of the largest private construction and engineering groups in Alba-

nia. A total of EUR 1,8 million will be provided to support the company's expansion.

APM's investment plan actually predicts a total of EUR 3,7 million to be spent in

the purchase of machinery and equipment meant to support the expansion of

capacity, undertaken as a response to growing demand from existing and new

clients. This will also allow APM to strengthen its competitiveness and position in

the EU markets.

"This is the first joint financing by the EBRD and ENEF in Albania and it repre-

sents an important milestone. We are pleased to support the growth of a dynamic

Albanian company and its efforts to strengthen its position on export markets.

APM's development to date has also benefited from technical assistance from

ENEF and the EBRD's Advice for Small Business. This support will continue dur-

ing the implementation of the project. We are committed to stepping up our fi-

nancing to local enterprises in Albania and contributing to the competitiveness

and development of the country's private sector", said Matteo Colangeli, EBRD

Head of office in Albania.

"Collaboration with the EBRD and ENEF is providing us with the opportunity to progress

with the development of our company. This financing is enabling higher growth in ex-

ports, where there is significant demand for our products. The EBRD and ENEF are

providing APM with growth at the technological, managerial and strategic level", added

Altin Fuga, General Manager of APM.

The ENEF fund is supporting established small and medium-sized enterprises

with high growth in the Western Balkans. The EBRD is also an investor in the fund,

together with the European Investment Fund (EIF), the European Union (EU), the

German Development Bank (DEG), the Development Bank of Austria (OeEB) and

the government of Italy.

Serbia begins work on its largest wind farm project

The largest wind farm project in Serbia and the Western Balkans to date will officially

be realized after it received a EUR 215 million loan for its implementation. The funds are

provided by the European Bank of Reconstruction and Development (EBRD) and the

International Finance Corporation (IFC).

The Cibuk 1 wind farm has a total cost of EUR 300 million, and its financing package

was signed in Belgrade in the presence of Serbia's president Aleksandar Vucic. The

158MW wind farm is being developed by Vetroelektrane Balkana. The company is

owned by Tesla Wind, which is a joint venture between Masdar, a renewable-energy

company based in Abu Dhabi, and Cibuk Wind Holding, a subsidiary of the US-based

wind-energy developer Continental Wind Partners.

The project outlines the building of a 40 sq. km wind farm north-east of the Serbian

capital Belgrade, consisting of 57 wind turbines supplied by General Electric. The plant

will be connected to the grid in the first half of 2019 and is expected to produce electricity

for an estimated 113 000 households, while reducing CO2 emissions by more than 370

000 tonnes. The construction itself will create 400 jobs in the area, additionally contribut-

ing to local infrastructure with 50 km of roads.

"We would like to thank the government of Serbia, Mubadala Investment Company, as well

as the lenders, advisors, and all the other parties involved in reaching this critical milestone.

The development of the largest wind farm in the Western Balkans is a pivotal moment for the

expansion of renewables in the region and positions Serbia at the forefront of Europe's fast-

est-growing alternative energy sector," said the Chairman of Tesla Wind Yousif Al Ai.

Cibuk 1 will be Masdar's fourth wind farm in Europe after the 630 MW London Array,

the world's largest offshore wind farm in operation, the 402 MW Dudgeon Offshore Wind

Farm in England, and Hywind Scotland, a 30 MW floating offshore windpower develop-

ment situated near the coast of Aberdeenshire.

"The Cibuk wind farm is a breakthrough for Serbia as the country works to meet its

commitment to produce 27 per cent of domestic power needs from renewable energy

sources by 2020. The EBRD has worked closely with the government to develop and

refine the regulatory framework for the sector and these efforts have now unlocked job-

generating foreign investment and the first wave of renewable-energy projects," com-

mented Harry Boyd-Carpenter, EBRD Director of Power and Energy Utilities.

Source: APM

Source: Pixabay