China's Sinomach mulls investments in Serbian renewable energy sector

Chinese industrial machine manufacturer Sinomach is considering investments in Serbia's renewable energy sector, Serbia's energy ministry said.

Serbia offers great investment opportunities, especially when it comes to wind farms, hydropower plants and the mining industry, the energy ministry quoted Sinomach representative Jake Yeng as saying in a press release on Tuesday.

"I hope that we will find a common interest and that we will cooperate on projects," Yeng said during a meeting with Serbian energy minister Zorana Mihajlovic in Belgrade.

Serbia's government has prepared a 17 billion euro ($20 billion) investment plan for the mining and energy sector and a large portion will be dedicated to renewable energy capacity, Mihajlovic said at the meeting, according to the press release.

"We expect to have the first contracts that we will start implementing next year," Mihajlovic said in July.

Sinomach is a Chinese conglomerate with businesses in tool making, construction equipment, agricultural equipment, and infrastructure construction.

($ = 0.8722 euro)

Choose your newsletter by Renewables Now. Join for free!