Chinese wind-turbine manufacturer Windey is expanding its role in Serbia’s renewable-energy sector through an investment partnership with Fintel Energia, covering projects including the proposed 854 MW Maestrale Ring wind development. Under the strategic agreement announced, Windey will be able to invest directly in Fintel projects, either independently or together with other Chinese institutional investors. The cooperation also includes approximately 110 MW of wind capacity currently under construction and provides for potential joint development of modular AI data centres near Fintel substations.
Windey expands beyond equipment supply
The agreement gives Windey a role beyond its traditional position as a turbine supplier in Serbia. Wind-turbine manufacturers have generally participated in renewable projects through equipment sales, EPC arrangements and long-term service contracts. Direct equity investment would give Windey exposure to project returns while providing Fintel with access to additional Chinese capital.
For Maestrale Ring, the partnership introduces a potential financing source for a project with planned capacity of 854 MW. Projects of this scale require substantial capital in addition to turbine procurement and face financing considerations related to permitting, grid connections, electricity prices and construction sequencing.
Maestrale Ring financing structure
Equity participation by a turbine manufacturer can reduce the developer’s capital requirements while linking equipment supply, construction schedules and long-term operational performance more closely to project economics. The proposed Maestrale Ring development would be among the largest onshore wind projects proposed in Southeast Europe. For Fintel, the partnership provides a route to combine industrial participation with potential institutional funding as projects move through development and financing stages.
Potential role for AI data centres
The agreement also introduces a potential connection between renewable generation and digital infrastructure through modular AI data centres located near Fintel substations. Such facilities could provide a significant electricity demand source close to renewable generation. This could allow developers to diversify how generated electricity is consumed rather than relying exclusively on wholesale market sales.
The proposed model could combine renewable generation, battery storage and energy-intensive digital infrastructure within an integrated development platform.
Broader Chinese investment involvement
The partnership expands Chinese participation in Serbia’s energy sector from engineering and equipment supply toward potential ownership of renewable-generation assets. Chinese companies already have involvement in Serbia’s transport, mining, heavy industry and energy infrastructure. Direct investment in renewable projects would provide Chinese investors with exposure to Serbia’s electricity market and renewable-generation assets.
For Fintel, the immediate focus is whether the new partnership can help advance projects that have remained in development. The 854 MW Maestrale Ring project continues to depend on financing, grid connection capacity and permitting as key development requirements. The agreement also covers the approximately 110 MW of wind capacity already under construction, expanding the potential scope of cooperation between the two companies.
