First Chinese Investment in Renewable Sources in Serbia – CWP Europe and PowerChina Resources Sign Agreement on Investment in Wind Farm Vetrozelena

With the official signing of the agreement on the investment in the Wind Farm Vetrozelena project near Pancevo, the Chinese company PowerChina Resources is becoming a strategic partner of CWP Europe, one of the leaders in the development of projects of renewable energy sources in Serbia and the region. The agreement signing ceremony was attended by the deputy minister for international cooperation at the Ministry of Mining and Energy, Jovana Joksimovic, the consultant for economic and trade cooperation at the Embassy of China to Serbia, Liu Kai, and representatives of both companies.

He Shiyou, the executive vice president at PowerChina Resources, stated:

– As an overseas investment platform of the PowerChina Group corporation, we are proud of our partnership with CWP Europe to the end of improving this project, which will contribute considerably to the Serbian striving for renewable energy sources. The synergies of the possibilities of PowerChina Resources in investing, construction and operations and the development, commercial and local experience of CWP Europe will be of great value for the project. And this project strengthens our cooperation with one of the most active and fastest growing players in the wind industry in Europe.

Vetorizelena is highly harmonized with the strategic goal of “Carbon Neutrality” that many countries have set for themselves. Once the project starts functioning, it will contribute to the optimization of the energy mix, the reduction of energy costs, the stimulation of the energy structural transformation and the delivery of sustainable and accessible clean energy to the Serbian people. A road of a thousand miles begins with the first step. The signing of the investment agreement with CWP Europe is the key turning point and a perfect beginning of the participation of PowerChina Resources in the sector of renewable energy in Serbia.

The CEO of CWP Europe, Dimitar Enchev, added on that occasion:

– We are excited that we can welcome PowerChina Resources as our partner in the wind farm Vetrozelena of 300 MW. This important project will be the biggest wind farm in Serbia and one of the biggest ones in the region when it is completed in 2025. This project is a big investment and the delivery of clean electrical energy at a low price is an important step toward the diversification and decarbonization of the Serbian energy mix.

Vetrozelena is the second such project that CWP has developed in Serbia, with a planned installed power of 300 MW and 48 wind generators. The production of green energy at the wind farm Vetrozelena will reduce CO2 emissions by around 820,000 tons each year. Upon the completion of the construction and the commissioning in 2025, the wind farm Vetrozelena will be the largest such project in the country.

The investment agreement on the wind farm of 300 MW creates favorable conditions for the further upgrade of renewable energy sources in Serbia and is a clear sign that the country is on the road toward the diversification of its energy mix. The two companies are in a unique position to cooperate and combine global knowledge and specific local experience.

CWPR Services doo Beograd

CWP Europe

CWP Global

PowerChina Resources

He Shiyou

Dimitar Enchev

Vetrozelena

biggest wind farm in Serbia

Chinese investments in RES in Serbia

investment in wind farm Vetrozelena

strategic partnership