The Government of Serbia and China Energy International Group (CEIG) have signed a memorandum of understanding on strategic cooperation in energy sector.
The memorandum of understanding was signed by Minister of Mining and Energy Dubravka Đedović Handanović and Wang Bo, China Energy International Group’s vice president for South Asia and Central and Eastern Europe.
The cooperation would allow Serbia to install more energy storage capacities by using new technologies, Dubravka Đedović Handanović said.
She stressed the importance of energy storage solutions for greater integration of renewable energy sources. Serbia has committed to producing almost one in two megawatt-hours of electricity from clean sources in 2030, making energy storage extremely important, she said.
Companies from China, in her words, have developed compressed air technology for storing energy.
Đedović Handanović: Foreign direct investment by Chinese companies is envisaged on behalf of EPS
According to the minister, the technology was already available ten years ago, but it wasn’t developed enough. Today there are storage facilities in the United Kingdom built by Chinese companies, and Serbia has an opportunity now to introduce the technology, Đedović Handanović noted.
It would be a foreign direct investment by companies from China that would be handed over to state-owned power utility Elektroprivreda Srbije (EPS), she pointed out.
Li: Serbia’s rapid economic growth will require more renewable energy
China’s Ambassador to Serbia Li Ming said Serbia has rapid economic growth, requiring more renewable energy. Chinese companies are dominant in the sector, he added.
The ambassador said compressed air energy storage technology is highly progressive and available. He expressed hope the cooperation can materialize as soon as possible for the benefit of the people and Serbia’s economic development.
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