News

Clear legislation necessary for GE to invest

Published

June 11, 2015

Comments

comments icon

0

Share

Published:

June 11, 2015

Comments:

comments icon

0

Share

General Electric is prepared to invest more in Serbia, but regulation should be amended, said Gaetano Massara, the company’s Southeastern Europe unit’s chief executive. Many significant projects have been put on hold in the country, including wind power, he said at the General Electric Sourcing Day, an event held at the building of the National Assembly of Serbia. The gathering was organized by the parliament’s economic caucus, the Serbian Chamber of Commerce and Industry and the National Alliance for Local Economic Development – Naled.

„We wish to invest in the development of infrastructure, but we need a stable business environment and a clear legislation framework. Serbia has the opportunity to develop 500 MW in wind farms, which would bring investments of EUR 1 billion and create more than 500 jobs during the construction. This will occur when all necessary by-laws are adopted“, said Massara, as quoted on Naled’s website.

The government is ready to subsidize GE’s and other international companies’ suppliers, Serbian prime minister Aleksandar Vučić said. Incentives may cover investments, equipment and new jobs, and consulting services in partnership with international organizations such as German GIZ and American USAID, he said. The state is ready to pay grants for certificates, he said at the event.

Related Articles

croatia verne rimac autonomous electric vehicles robotaxi facility

Construction of production facility for autonomous EVs kicks off in Croatia

12 February 2025 - It will be the home of Verne, an autonomous electric robotaxi, named after French author Jules Verne

Bulgarian IBEX exchange appoints interim CEO Dian Boev

Bulgarian IBEX exchange appoints interim CEO Dian Boev

12 February 2025 - The board of BSE replaced Independent Bulgarian Energy Exchange's CEO Konstantin Konstantinov with Dian Boev for a six-month term

energy community tnc mapping guide blueprint solar wind environment impact

Guide for mapping areas for solar, wind with minimized impact on environment in Energy Community

12 February 2025 - The secretariat and TNC released a guide for identifying priority areas for renewables that minimizes environmental and social conflicts

Distorted licensing process in Greek energy storage leaves small players out

Distorted licensing of energy storage in Greece leaves small players out

12 February 2025 - Small investors in energy storage complain about an oligopoly in the sector as a result of a distorted licensing process