Wind Farms

Wind Farms

Photo by UNDP Serbia, Djordje Novakovic

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Wind Farms
Wind Farms
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Renewable Resources and Alternative Energy
Alternative Energy
Business Model Description

Construct and operate wind farms to generate revenue by selling electricity through long-term Purchase Power Agreements, covering the expenses and potentially selling renewable energy credits. Distributors are obliged to purchase all the energy produced from renewable sources. Wind power plants require supplying equipment, transportation, risk mitigation and planning know-how, location with frequent and robust wind, energy license, use, and construction permit.

Expected Impact

Reduce harmful energy production emissions, increase energy security, and replaces fossil fuels.

How is this information gathered?
Updated: 29 Jun, 2023
Serbia
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
< 5% (in IRR)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Long Term (10+ years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
> USD 1 billion
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
> USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Affordable and Clean Energy (SDG 7) Climate Action (SDG 13) Responsible Consumption and Production (SDG 12)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Reduced Inequalities (SDG 10)

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Sector Sources
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IOA Sources
  • 21) Logicno.com. Wind farms - the future of Serbia, 2016. https://www.logicno.com/novac-posao-ekonomija/vetroparkovi-buducnost-srbije.html 22) Fintel Energija, 2022. https://www.fintelenergija.rs/sr 23) Elicio, 2022. https://elicio.rs/elicio-u-srbiji/ 24) Danas, The largest wind farm in the Balkans - "Čibuk 1" near Kovino - was opened, 2019. https://www.danas.rs/vesti/ekonomija/otvoren-najveci-vetropark-na-balkanu-cibuk-1-kod-kovina/ 25) B92. The Swiss MET Group and NIS are jointly building a wind park near Plandište, 2019. https://www.b92.net/biz/vesti/srbija/svajcarska-met-grupa-i-nis-zajednicki-grade-vetropark-kod-plandista-1520707 26) Biznis. By investing 6,000 euros in solar panels, the investment pays off in five to eight years, 2022. https://biznis.rs/vesti/srbija/ulaganjem-6-000-evra-u-solarne-panele-investicija-se-isplati-za-pet-do-osam-godina/ 27) Ministry of Science and environmental protection. Global assesment of energy potential of wind in Serbia, 2004. https://www.energetskiportal.rs/wp-content/uploads/2013/11/Globalna-procena-energetskog-potencijala-vetra-u-Srbiji.pdf 28) E2. Serbia has a potential for more wind parks, 2021. https://www.e2.rs/srbija-ima-mogucnost-za-vise-vetroparkova/ 29) BBC, Environment and wind energy: What are wind farms and whether they have survived in Serbia, 2021. https://www.bbc.com/serbian/lat/srbija-57468664 30) Renewables now. Serbia targets 40% share of renewables in energy mix by 2040, 2021. https://renewablesnow.com/news/serbia-targets-40-share-of-renewables-in-energy-mix-by-2040-energy-min-742523/ 31) Intenational Renawable Energy Agency. Serbia energy profile, 2022. https://www.irena.org/-/media/Files/IRENA/Agency/Statistics/Statistical_Profiles/Europe/Serbia_Europe_RE_SP.pdf 32) Our world in data. Serbia: Energy Country Profile. https://ourworldindata.org/energy/country/serbia 33) Nova.The Ukrainian crisis exposed Serbia's dependence on energy imports, 2022. https://nova.rs/vesti/biznis/naled-ukrajinska-kriza-ogolila-zavisnost-srbije-od-uvoza-energenata/ 34) OIE Srbija. https://oie.rs/oie/ 35) Ekapija. What do renewable energy projects look like in practice? - Hard to get a building permit for a wind farm, 2021. https://www.ekapija.com/news/3416310/oie-srbija-2021-kako-projekti-obnovljive-energije-izgledaju-u-praksi-tesko-do 36) Ewea. Wind energy in Serbia, 2021. https://www.ewea.org/wind-energy-basics/wind-energy-in-serbia/ 37) Cord, 2021. https://cordmagazine.com/sr/intervju/zorana-mihajlovic-ministarke-rudarstva-i-energetike-ova-godina-je-prekretnica-u-nasoj-energetskoj-tranziciji/ 38) Balkan green energy news. Women and sustainable energy: research examines roles, seeks to help bridge gender gap, 2018. https://balkangreenenergynews.com/women-and-sustainable-energy-research-examines-roles-seeks-to-help-bridge-gender-gap/ 39) Republican Bureau of Statistics, SDG Indicators, 2022. https://sdg.indikatori.rs/area/affordable-and-clean-energy/?subarea=SDGUN070201&indicator=070201IND02 40) World Bank, 2022. https://data.worldbank.org/indicator/EG.ELC.ACCS.ZS?locations=EU 41) Law on Renewable Energy Sources, 2021. https://www.paragraf.rs/dnevne-vesti/280121/280121-vest11.html 42) UNDP stakeholder consultations, 30th of March, 2023. 43) Law on Energy ("Official Gazette of RS", no. 57/11 and 80/11), 2014. https://www.aers.rs/FILES/Zakoni/Eng/EnergyLaw%20SG%20145-14.pdf 44) EPS, Jurisdiction,n.d. https://www.eps.rs/cir/snabdevanje/Pages/nadleznost.aspx