Serbia lands 2 bln euro Chinese investment in renewables

Serbia signed a Memorandum of Understanding (MoU) with China’s Shanghai Fengling Renewables Co Ltd and Serbia Zijin Copper, the Serbian unit of China's Zijin Mining, energy minister Dubravka Djedovic Handanovic said in a press release on Friday.

The project involves the construction of facilities in the vicinity of the eastern town of Bor, with a total capacity of 2 GW, including a 1,500 MW wind power plant, a 500 MW solar power plant, and a factory for the production of green hydrogen with a capacity of around 30,000 metric tons annually.

Handanovic said that the construction of the facilities is scheduled to begin in the first quarter of next year, with the first phase of 700 MW expected to be completed by mid-2026. The entire project is expected to be completed by the end of 2028.

The investor is Shanghai Fengling and the energy will be used for the production needs of Serbia Zijin Copper, which is one of the largest exporters in Serbia, particularly after the reconstruction of the flash furnace smelter.

Handanovic said that the project will create between 300 and 500 jobs.

China has invested billions of euro in Serbia, mostly as loans for infrastructure and energy projects, to build trade links under its Belt and Road Initiative.

$ = 0.9226 euro