Renewables

Serbia drafting solar strategic partnership deal with Hyundai Engineering, UGT Renewables

Serbia drafting solar strategic partnership deal Hyundai Engineering UGT Renewables

Photo: Dubravka Đedović Handanović / Facebook

Published

April 3, 2024

Country

Comments

0

Share

Published:

April 3, 2024

Country:

Comments:

0

Share

The Ministry of Mining and Energy of Serbia indicated that it achieved progress in formalizing the strategic partnership with the consortium Hyundai Engineering – UGT Renewables. All elements of the commercial contract should be agreed within weeks, according to Minister Dubravka Đedović Handanović. The two companies are set to be hired to build solar power plants with a combined nameplate capacity of 1.2 GW and batteries of at least 200 MW in total operating power.

Minister of Mining and Energy of Serbia spoke today with a delegation of the consortium Hyundai Engineering – UGT Renewables (UGTR). It was selected last year through a public call for a strategic partner for the construction of solar power plants with a total peak capacity of 1.2 GW and 1 GW in connection terms.

Project of European significance

The ministry noted that the deal is for self-balancing facilities, given that the project includes the installation of battery systems with combined operating power of at least 200 MW and the ability to store a minimum of 400 MWh.

“This is one of the most ambitious and biggest projects for renewable energy sources in Europe! Our goal is to achieve all the necessary elements of the commercial contract in the following weeks so that we can enable our strategic partner to swiftly begin developing and building the solar power plants, which will by 2028 become a significant part of EPS’s production portfolio,” Minister Dubravka Đedović Handanović pointed out.

The facilities are envisaged to be handed over to state-owned power utility Elektroprivreda Srbije

The project has enormous significance for Serbia’s energy sector and the achievement of the strategic goals for the decarbonization of the energy sector, she added. Its materialization has an important effect on the country’s European integration, economic development and the availability of green energy, especially for export-oriented, energy-intensive companies, the minister underscored.

Acting Director of state-owned power utility Elektroprivreda Srbije (EPS) and the representatives of the Ministry of Finance attended the meeting.

Strategic partner is tasked with selecting optimal locations

Among the other conditions for the establishment of a strategic partnership, the winning consortium needs to determine optimal locations for the said facilities and produce spatial planning documentation and necessary studies.

Hyundai Engineering is one of the companies making up the South Korean Hyundai Motor Group. In Southeastern Europe, it is active in Montenegro as well in partnership with UGTR, based in Miami, Florida.

Of note, the Government of Serbia also intends to look for a strategic partner for the construction of wind farms with a total capacity of 1 GW.

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

Greece-PPC-sets-sights-Italy-Croatia-in-tandem-Mytilineos

Greece’s PPC sets its sights on Italy, Croatia in tandem with Mytilineos

16 April 2024 - Public Power Corp. – PPC is about to pay out the first dividend in a decade and is widening the scope of its regional expansion

see cao filip markovic montenegro director

SEE CAO appoints new executive director

15 April 2024 - Until January 2024 the executive director of SEE CAO was Ivan Bulatović from Montenegro

croatia hrote auctions cfd wind solar

Croatia launches auctions for 607 MW of solar, wind, hydro

15 April 2024 - Croatian Energy Market Operator HROTE issued a public call for auctions for premiums for wind farms and PV and hydropower plants

ACER-urges-TSOs-make-70-cross-border-power-transmission-capacity-available-2025

ACER urges TSOs to make 70% of cross-border power transmission capacity available by end-2025

15 April 2024 - ACER said most EU member states are far below the minimum 70% capacity margin available for cross-zonal electricity trading