Chinese companies to invest EUR 2 billion in wind, solar, hydrogen projects in Serbia

The Ministry of Mining and Energy, on behalf of the Government of Serbia, signed a memorandum of understanding with Chinese companies Shanghai Fengling Renewables and Serbia Zijin Copper. It envisages investments of EUR 2 billion in wind farms and solar power plants, with an overall capacity of 2,000 MW, and a green hydrogen production facility. It would be the first one in Serbia and  the output is seen at 30,000 tons per year.

The project for 2,000 MW and an electrolyzer facility is currently the largest in the green energy sector in Serbia. Next in size is a proposal for 1,000 MW of solar power with storage, which is under negotiation.

The memorandum of understanding between Serbia and Chinese companies Shanghai Fengling Renewables and Serbia Zijin Copper its the beginning of the single-largest investment in the renewable energy sector in the country, the Ministry of Mining and Energy said.

The green electricity will be consumed by Zijin

Minister of Mining and Energy Dubravka Đedović said the project is for power plants in the vicinity of the city of Bor, in the area where mining firm Serbia Zijin Copper is operating, with a total capacity of 2 GW, and a green hydrogen plant with an output of 30,000 tons per year. Wind farms would have a combined capacity of 1,500 MW while the planned photovoltaic park is seen at 500 MW, she noted.

The minister said earlier that the green hydrogen would be used as energy storage for electricity produced from wind and solar.

The endeavor is valued at EUR 2 billion, and the investor is Shanghai Fengling Renewables, while the electricity would be consumed by Serbia Zijin Copper, she explained.

First phase by 2026, completion by 2028

Đedović Handanović pointed out that the project would enable a significant part of the electricity needed for the activities of Zijin in Serbia to be produced sustainably, without fossil fuels and an adverse effect on the environment, and by exploiting domestic wind and solar potential.

The start of construction is planned for the first quarter of 2025, and the first phase (700 MW) is to be finished by mid-2026. The capacity of 2,000 MW and green hydrogen output of 30,000 tons would be reached by 2028.

Ambassador of China Li Ming said his country would continue to support all projects that contribute to Serbia’s economic development and benefit its citizens.

Of note, Serbia currently has 406 MW in wind power capacity. The government awarded premiums for another 425 MW while transmission grid connection requests have reached almost 22,000 MW by September.