Photo: Balkan Green Energy News
Representatives of Hyundai Engineering and UGT Renewables, the companies developing a solar power project in Serbia of 1.2 GW in total, and with batteries, said the strategic partnership is a step toward expansion in the surrounding region. Spatial planning is nearly complete.
Following the signing of grid connection contracts last week, the Hyundai Engineering – UGT Renewables consortium is advancing the design and permitting procedures within its strategic partnership in Serbia.
The two companies are tasked with building a group of photovoltaic plants of 1.2 GW in total peak capacity and connections of 1 GW overall, alongside battery energy storage systems (BESS) with a combined 200 MW in operational power and a maximum 400 MWh in capacity.
Group of hybrid power plants to be transferred to EPS
In a keynote speech at Belgrade Energy Forum – BEF 2025, Vice President of Hyundai Engineering Seung-Won Lee revealed that the consortium is finalizing the special plans for special purpose areas. The facilities will be handed over to Serbia’s state-owned power utility Elektroprivreda Srbije (EPS), he noted.
The representative of the South Korea–based company added that the PV plants would generate 1.5 TWh per year and offset more than one million tons of carbon dioxide emissions. It is one of the largest renewable energy projects in Europe and a cornerstone for Hyundai Engineering, Lee pointed out.
UGT Renewables has project pipeline of 20 GW
Global Executive Advisor of UGT Renewables Chan-Woo Park said it is the largest renewable energy developer, internationally, in the United States. Its portfolio of companies is operating on four continents, he added. The regions include Southern Africa, the Middle East and Latin America, Park underscored.
The solar power and energy infrastructure projects under development account for 20 GW, UGT’s representative asserted.
It has established partnerships worth over USD 30 billion altogether, with Hyundai Engineering and other companies including Nextracker, Shoals Technologies, Hitachi Energy and Tesla Energy, Park stressed.
According to the update, the strategic partnership in Serbia is the beginning of the consortium’s regional expansion in the surrounding region.
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