February 6 (SeeNews) - Serbia’s government said on Tuesday that this year it will start the long-planned project for the construction of self-balanced solar power plants with a capacity of 1 GW along with battery systems for storing electricity.
The solar plants, expected to be completed by 2028, will generate an annual production of 1.2 TWh, finance minister Sinisa Mali said in a press release.
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The project will be supported by global companies, financial institutions, and agencies such as US Exim, MIGA, and the Swedish Export Credit Corporation, Mali stated.
He highlighted that this would be the largest investment in renewable energy sources in Europe this year, without specifying an exact amount.
In July last year, Serbia announced a public call for the selection of a strategic partner for the project, with a consortium of Hyundai Engineering, Hyundai ENG America and UGT Renewables selected as the winning bidders in November.
Last month, energy minister Dubravka Djedovic-Handanovic said Serbia has started talks with South Korea's Hyundai Engineering for the construction of a the GW solar energy project.
The solar sites will be built for state-owned power utility Elektroprivreda Srbije (EPS).