Serbia’s renewable energy pipeline has gained a stronger Chinese industrial footprint after Heavy Energy International, a Hong Kong-based subsidiary of SANY Renewable Energy, acquired a 90 per cent majority stake in the 168 MW Alibunar wind project in southern Banat.
The transaction marks the full exit of Norway’s Emergy from the project, while its Dutch-Belgian partner WV International retains a 10 per cent minority stake. Financial details were not disclosed.
The acquisition covers the full project rights for Alibunar 1, planned at 96.6 MW, and Alibunar 2, planned at 71.4 MW. Together, the two sites are expected to generate around 480 GWh of electricity annually, giving the project one of the more visible positions in Serbia’s near-term wind development pipeline.
The industrial logic of the deal is clear. SANY is not only entering as a financial investor but as a turbine technology supplier. The project is expected to use SANY S168 turbines, each with a capacity of 4.2 MW, strengthening the Chinese manufacturer’s position in Southeast Europe’s renewable energy market.
Alibunar is especially attractive because it has already passed through Serbia’s state auction framework for market premiums. Future output is expected to be sold to Elektroprivreda Srbije (EPS) under a 15-year power purchase arrangement, giving the project a more predictable revenue base than merchant-only renewable assets.
For Serbia, the takeover underlines two wider market trends: growing foreign interest in bankable renewable projects and the increasing role of Chinese capital and equipment suppliers in the country’s energy transition. The deal also shows that auction-backed projects with defined offtake structures are becoming the most attractive entry points for strategic investors seeking exposure to Serbia’s wind sector.
For SANY, Alibunar provides a platform to demonstrate its turbine technology in a market where grid access, permitting, revenue certainty and local execution capacity are becoming decisive factors. For Serbia, the project adds scale to the renewable pipeline at a time when the electricity system is under pressure to diversify away from coal while maintaining supply security and price stability.
