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The Government of the Republic of Serbia

In the service of citizens

Memorandum on investment in RES in Serbia signed with Chinese companies

Belgrade, 26 January 2024

Minister of Mining and Energy Dubravka Djedovic Handanovic signed today in the Serbian government a Memorandum of Understanding on investments in renewable energy sources (RES) with companies Shanghai Fengling Renewables Co. Ltd and Serbia Zijin Copper doo Bor.

Djedovic Handanovic explained that this project involves the construction of a plant in the vicinity of Bor with a total capacity of two gigawatts (GW), a wind power plant of 1,500 megawatts (MW) and a solar power plant of 500 MW, as well as the construction of a factory for the production of green hydrogen, with a capacity of about 30,000 tons per year.

The total investment is about €2 billion and the investor is the company Shanghai Fengling. The produced energy will be used for the production needs of Zijin, which is one of the largest exporters in Serbia and which is constantly increasing its production, especially after the completion of the reconstruction of the smelter in Bor last year, the Minister pointed out.

According to her, the start of construction of the plant is planned for the first quarter of next year, and the first phase of 700 MW should be completed by the middle of 2026.

By the end of 2028, the entire project should be completed, i.e. all 2,000 MW, and the green hydrogen production capacity of 30,000 tons per year should be reached, the Minister announced.

She emphasised that this investment will enable the creation of 300 to 500 new jobs, mainly related to the sector of renewable energy sources, and these jobs will have a high level of earnings.