Photo: Dubravka Đedović Handanović / Facebook
The Ministry of Mining and Energy of Serbia indicated that it achieved progress in formalizing the strategic partnership with the consortium Hyundai Engineering – UGT Renewables. All elements of the commercial contract should be agreed within weeks, according to Minister Dubravka Đedović Handanović. The two companies are set to be hired to build solar power plants with a combined nameplate capacity of 1.2 GW and batteries of at least 200 MW in total operating power.
Minister of Mining and Energy of Serbia spoke today with a delegation of the consortium Hyundai Engineering – UGT Renewables (UGTR). It was selected last year through a public call for a strategic partner for the construction of solar power plants with a total peak capacity of 1.2 GW and 1 GW in connection terms.
Project of European significance
The ministry noted that the deal is for self-balancing facilities, given that the project includes the installation of battery systems with combined operating power of at least 200 MW and the ability to store a minimum of 400 MWh.
“This is one of the most ambitious and biggest projects for renewable energy sources in Europe! Our goal is to achieve all the necessary elements of the commercial contract in the following weeks so that we can enable our strategic partner to swiftly begin developing and building the solar power plants, which will by 2028 become a significant part of EPS’s production portfolio,” Minister Dubravka Đedović Handanović pointed out.
The facilities are envisaged to be handed over to state-owned power utility Elektroprivreda Srbije
The project has enormous significance for Serbia’s energy sector and the achievement of the strategic goals for the decarbonization of the energy sector, she added. Its materialization has an important effect on the country’s European integration, economic development and the availability of green energy, especially for export-oriented, energy-intensive companies, the minister underscored.
Acting Director of state-owned power utility Elektroprivreda Srbije (EPS) and the representatives of the Ministry of Finance attended the meeting.
Strategic partner is tasked with selecting optimal locations
Among the other conditions for the establishment of a strategic partnership, the winning consortium needs to determine optimal locations for the said facilities and produce spatial planning documentation and necessary studies.
Hyundai Engineering is one of the companies making up the South Korean Hyundai Motor Group. In Southeastern Europe, it is active in Montenegro as well in partnership with UGTR, based in Miami, Florida.
Of note, the Government of Serbia also intends to look for a strategic partner for the construction of wind farms with a total capacity of 1 GW.
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