Koncar Elektroindustrija to build wind farm in Croatia

Koncar Elektroindustrija has secured the necessary building permits and will start the construction of the wind energy facility in which Koncar will invest 80 million kuna in cash and will borrow the remainder, business news portal Bankamagazine quoted Koncar CEO Darinko Bago as telling a news conference.

Koncar will install 15 wind turbines with a 1.0 MW capacity each and one 2.5 MW wind turbine, Bankamagazine added. All of the equipment will be manufactured locally with the exception of the rotor blades, Bago was quoted as saying.

The investment plan will be reviewed by the Supervisory Board of the company by the end of the month to get the all-clear. Koncar manufactures goods ranging from equipment for power plants and trams to portable computers and cookers.

Koncar, one of the 24 components of the benchmark Crobex index of the Zagreb bourse, closed down 1.28% at 461 kuna on Wednesday.