Elicio in Serbia

Elicio is a Belgian company that has been producing electricity from renewable sources for more than two decades. We built two wind farms in Serbia and the development of wind farms at two sites is in progress. WF Malibunar (8 MW) has been producing green energy since 2017, while WF Alibunar (42MW) has been operating since 2018. New projects of 200MW capacity started in 2019 in South Banat region.

A total of 75.1 million euros has been invested in WPP Alibunar, part of which is from loans from the IFC Group of the World Bank, commercial banks and investment funds. The loan was refinanced in 2021 at Unicredit Bank.

A total of 15m euros has been invested in WPP Malibunar. Unicredit financed the full amount.

A team of experts in Belgium and Serbia, employed and externally engaged, in collaboration with Elicio management from Belgium HQ, is working on the development. Finally, Alibunar Wind farm Alibunar was named the best project in the field of renewable energy sources in Southeast Europe in 2018.

“We are interested in new investments in Serbia while helping the country meet the goal of at least 40 percent of energy coming from renewable sources by 2040, and it is also very important in terms of reducing CO2 emissions,” said Christophe Bols, Country Manager at Elicio.