Serbia in talks with United States firm over construction of 1GW of solar

• The government of Serbia has actually authorized an arrangement with US business UGT Renewables to coordinate on the building of solar and energy storage projects in the Balkan country.

According to a news release from the office of Serbia's head of state, Aleksandar Vučić, talks are underway for the growth of 1GW of solar projects at around 12 areas that have a mixed location of 2,000 hectares. It is expected the projects would be completed within two years.

A participation agreement was signed between Serbia's priest of mining as well as power, Zorana Mihajlović, and UGT Renewables CFO, Peter Goodall.

Mihajlović previously this year revealed that Serbia will certainly aim to have 40% of its power from renewables by 2040.

Plans for a Serbian solar project of note have actually considering that been exposed by independent power producer Fintel Energija and also holding business MK Group. The agriPV plant will entail an investment of EUR340 million (US$ 404 million) and also cover 700 hectares of agricultural land. Building is anticipated to start next year.