Hyundai and UGT Renewables to build state solar power plants – Agreement signed on six facilities with total power of 1 GW

The minister of mining and energy of Serbia, Dubravka Djedovic Handanovic, and the CEO of Elektroprivreda Srbije, Dusan Zivkovic, have signed the Agreement on the realization of the project of the construction of self-balancing solar power plants in Serbia with the consortium of the companies Hyundai Engineering and UGT Renewables. This is the Project of the construction without management and maintenance of self-balancing solar power plants of large capacities, with a total installed power of at least 1,000 MWAC/1,200 MWDC, with battery systems for the storage of electrical energy with a total installed power of 200 MW/400 MWh at the most.

The agreement was signed by the CEO of UGT Renewables, Adam Cortese, the CEO of Hyundai Engineering, Hyeon-Sung Hong, and the strategic manager of Hyundai Engineering's Belgrade branch, Sangmin Park, on behalf of the consortium.

The signing of the agreement was attended by the president of Serbia, Aleksandar Vucic, the U.S. ambassador to Serbia, Christopher Hill, and the ambassador of the Republic of Korea, Jaewoong Lee.

On October 10, the Government of Serbia adopted the Decision on the project of construction without management and maintenance of self-balancing solar power plants of large capacities with battery systems for the storage of electrical energy in Serbia, as a project of importance for Serbia.

In September, the government adopted the decision on the preparation of the Spatial Plan of the Special-Purpose Area for the strategic project of construction of self-balancing solar power plants of large capacities with battery systems for the storage of electrical energy. This ambitious project will encompass parts of the territories of the cities of Zajecar and Leskovac, as well as the municipalities of Bujanovac, Lebane, Negotin and Odzaci.

The spatial plan will encompass six solar power plants with battery systems, which, as said, will make a considerable contribution to energy independence and the use of renewable energy sources.

The deadline for the preparation of the Draft Spatial Plan is eight months, and the funds for the preparation of the plan are secured by Elektroprivreda Srbije. The drafting authority for the Spatial Plan is the Agency for Spatial and Urban Planning of the Republic of Serbia.

Let us remind that the minister of finance of Serbia, Sinisa Mali, announced that the project of the construction of self-balanced solar power plants with a capacity of one 1 GW with battery systems for storing electricity would start in 2024. He pointed out that it was the largest investment in renewable energy sources in Europe in 2024.

– The world's best companies, financial institutions and export credit agencies such as US EXIM, MIGA, the Swedish Export Credit Corporation and others are included in this project – Mali said at the Ministry of Finance after a meeting with financiers of the project, which was also attended by the Swedish ambassador to Serbia, Annika Ben David.

As he said, the realization of the project is expected to provide the additional gigawatt of electricity from RES, with an annual production of 1.2 TWh. The construction is expected to be completed in 2028.

This is the previously announced project of construction without management and maintenance of self-balancing solar power plants of large capacities with battery systems for the storage of electrical energy in Serbia.

As announced, the project will be developed, built and handed over to the ownership of EPS as a turnkey project. That means that the strategic partners, in addition to building the solar power plants and battery system, will be obliged to build all the other infrastructure as well.

Ministarstvo rudarstva i energetike Republike Srbije

Elektroprivreda Srbije ad Beograd

Predsedništvo Republike Srbije

Ambasada SAD Beograd

Ambasada Južne Koreje u Beogradu

Agencija za prostorno planiranje i urbanizam Republike Srbije

HYUNDAI ENGINEERING CO. LTD OGRANAK BEOGRAD

Ministry of Mining and Energy of Serbia

Elektroprivreda Srbije

Hyundai Engineering

UGT Renewables

president of Serbia

US Embassy

Embassy of the Republic of Korea

Agency for Spatial and Urban Planning of the Republic of Serbia

Jaewoong Lee

Christopher Hill

Aleksandar Vučić

Dušan Živković Dubravka Đedović Handanović

Adam Cortese

Hyeon Sung Hong

Sangmin Park

Siniša Mali

Spatial Plan of the Special Purpose Area for the strategic project of construction of self balancing solar power plants of large capacities with battery systems for the storage of electrical energy

selection of strategic partner for realization of project of construction of self balancing solar power plants of large capacities with battery systems for the storage of electrical energy

construction of state solar power plants

strategic partner for construction of solar power plants

solar power plants of large capacities

Law on the Use of Renewable Energy Sources

battery systems