Renewables

CWP Europe, PowerChina Resources sign investment contract for Vetrozelena wind farm in Serbia

CWP-Europe-PowerChina Vetrozelena-Dimitar-Encev-He-Shiyou

Photo: Jakov Simović

Published

April 21, 2023

Country

Comments

0

Share

Published:

April 21, 2023

Country:

Comments:

0

Share

Renewable energy investor CWP Europe and PowerChina Resources signed an investment contract for the proposed Vetrozelena wind farm in Serbia. The Chinese company is acquiring 51% of the project while the remainder stays in ownership of CWP Europe, which has been developing the 300 MW wind power project in Pančevo from the start.

The contract on the investment in the Vetrozelena contract was signed by Executive Vice President of PowerChina Resources He Shiyou and Chief Executive Officer of CWP Europe Dimitar Enchev. CWP Europe is developing a renewable energy project portfolio of over 6 GW in Albania, Bulgaria, Bosnia and Herzegovina, Montenegro, Romania, Slovenia, Serbia, Moldova and Ukraine.

He Shiyou said that PowerChina Group’s overseas investment platform is proud of its partnership with CWP Europe aimed at upgrading the Vetrozelena project.

He Shiyou: The contract is a perfect start of Power China Resources’ participation in the renewable energy sector in Serbia

When the power plant becomes operational, it will help optimize the energy mix, cut energy costs, stimulate the energy sector’s transformation and sustainable and affordable clean energy supply to the Serbian people, he said and added that the new contract is a perfect start of Power China Resources’ participation in the renewable energy sector in Serbia

According to Enchev, in 2025, when it starts to generate electricity, Vetrozelena will be the biggest wind power plant in Serbia and one of the biggest in the region.

The investment is big, and the clean energy supply at a low price is an important step in the diversification and decarbonization of Serbia’s energy mix, he said and added that the construction is planned to start by the end of the year.

Enchev: Construction is planned to start by the end of the year

Vetrozelena is the second project that CWP developed in Serbia, Enchev said. It will lower CO2 emissions by an expected 820,000 tons per year, in his words.

CWP Europe is a joint venture of renewable energy investor CWP Global and independent energy trader Mercuria Energy, which has over USD 140 billion dollars in revenues.

Its first project in Serbia was wind park Čibuk.

Đedović: Projects like this one are changing Serbia’s energy map

CWP Europe i PowerChina potpisali ugovor Vetrozelena

The contract signing ceremony was attended by Jovana Joksimović, assistant to Serbia’s minister of mining and energy for international cooperation and European integration, Liu Kai, economic and trade cooperation counselor in the Embassy of China in Serbia, and Ji Xiaoyong, president of PowerChina International. Minister of Mining and Energy Dubravka Đedović addressed the gathering via video call.

She said Serbia and China are friends and strategic partners and that their political and economic relations are excellent. The cooperation is particularly strong in the energy sector, she added and highlighted the construction of the Kostolac B3 coal-fired power plant in Serbia.

“Vetrozelena is a large and significant investment in Serbia, which will almost double our current wind power generation capacity. Such projects are changing Serbia’s energy map,” Đedović stressed.

Liu Kai said both China and Serbia are attributing great significance to “new energy” and that the contract marks the start of cooperation in the sphere.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Croatian Chamber of Economy lex specialis for renewables position paper

Croatian Chamber of Economy asks for lex specialis for renewable energy sector

28 March 2024 - The Association for Renewable Energy Sources produced a position paper identifying obstacles and possible solutions

romania delgaz hydrogen 20HyGrid

Romania successfully tests blending hydrogen in natural gas distribution grid, households

28 March 2024 - E.ON Romania declared success in its test of blending hydrogen into the gas network and using the mixture in households.

IRENA-Global-solar-power-capacity-surpasses-hydropower-in-2023

IRENA: Global solar power capacity surpasses hydropower in 2023

28 March 2024 - The world's renewable electricity capacity additions in 2023 hit a record 473 GW, dominated by China. Solar power became the largest segment in total.

aleksander mervar eles krsko solar slovenija

Mervar: Electricity from Krško 2 nuclear project won’t be cheaper then EUR 125 per MWh

27 March 2024 - CEO of Slovenia's TSO ELES Aleksander Mervar said gas power plants need to be built to prevent the need for large electricity imports