Serbia signs deal with US-Korean consortium for 1 GW of solar

BELGRADE, October 16, 2024 – The government of Serbia has signed a deal with a consortium of US player UTG Renewables and South Korea’s Hyundai Engineering & Technology for the development of 1 GW of solar, Reuters reported on Wednesday.

The consortium will construct six solar plants, according to the country’s energy ministry.

 

An agreement on the installation was initially reached in August 2023.

The plants will have a total of 200 MW of battery storage capacity.

Serbia aims to grow its renewable power generation capacity in a bid to reduce its heavy reliance on coal, the report noted.

In March, the government unveiled plans to launch a bid round to procure at least 400 MW of wind and solar. The round would mark the country’s second-ever renewables auction.