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Introduction to the Memorandum
Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović, has inked a Memorandum of Understanding with Shanghai Fengling and Zijin Copper Bor. This agreement signifies a leap forward in Serbia’s investment in renewable energy sources (RES).
Green Energy Transition and Its Recognition
Đedović Handanović highlighted Serbia’s progress in green energy transition over the past year, notably in legislative improvements and successful renewable energy auctions. This progress has been acknowledged by the Energy Community, which recognizes Serbia as a leader in reform implementation among its members.
Details of the Renewable Energy Project
The minister elaborated that the memorandum kickstarts Serbia’s most substantial RES project to date, led by Chinese companies Shanghai Fengling Renewables Co. Ltd. and Serbia Zijin Copper doo Bor, with Serbia as a co-owner. The plan includes the construction of facilities near Bor with a total capacity of two gigawatts (GW), comprising 1,500 megawatts (MW) of wind farms and 500 MW of solar power plants, along with a green hydrogen production plant with an annual capacity of approximately 30,000 tons.
Investment and Energy Usage
The total investment is around two billion euros, funded by Shanghai Fengling. The energy generated will primarily serve the needs of Zijin, one of Serbia’s largest exporters, especially following the reconstruction of the smelter in Bor last year. This project will ensure that a significant portion of the electricity for Zijin is sustainably produced, avoiding fossil fuels and minimizing environmental impact.
Location and Potential of the Project
Đedović Handanović stated that the energy will be generated in Serbia’s Bor District, tapping into the region’s solar and wind energy potentials.
Project Timeline and Employment Opportunities
Construction is scheduled to begin in the first quarter of the following year, with the first phase of 700 MW expected to be completed by mid-2026. The entire 2,000 MW project, along with the green hydrogen production capacity, is anticipated to be finished by the end of 2028. This investment will create 300 to 500 new jobs, primarily in the RES sector, offering high wage levels.
Serbia’s Position in Renewable Energy and Green Hydrogen Production
With this project, Serbia is set to become a European hub for renewable energy and green hydrogen production and equipment. It will contribute significantly to achieving energy security and independence, aligning with the country’s ambition to reach carbon neutrality by 2050.
