Serbia welcomes Chinese investment in 2-GW renewables project

China’s Shanghai Fengling Renewable Co Ltd has committed to pouring some EUR 2 billion (USD 2.17bn) into the construction of 2 GW of wind and solar photovoltaic (PV) parks and a green hydrogen production plant in Serbia, the Balkan country’s government announced on Friday.

The investment will be made under a memorandum of understanding (MOU) between Serbia's mining and energy ministry, Shanghai Fengling and Serbia Zijin Copper, a local unit of Chinese mineral exploration company Zijin Mining (SHA:601899).

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The plan envisages the installation of wind turbine generators with a combined capacity of 1,500 MW near the city of Bor, in the Bor District in eastern Serbia, and a solar photovoltaic (PV) complex of 500 MW. The proposal also includes building a facility for green hydrogen production with an expected capacity of 30,000 tonnes annually.

All of the produced energy will be used for the operations of a copper mine and smelter near Bor. The facilities are owned by Zijin, which is one of the largest exporters of copper and precious metals in Serbia.

The renewable energy capacity will be added in two stages. With construction works due to be launched this quarter, the initial 700 MW of the overall capacity is expected to be commissioned by the middle of 2026. The remaining portion will go live by the end of 2028, when the hydrogen production plant will reach full capacity.

(EUR 1.0 = USD 1.084)