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Serbia embarks on gigawatt-scales solar power initiative with Hyundai Engineering

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The Minister of Mining and Energy, Dubravka Đedović Handanović, engaged in discussions today with a delegation from the consortium spearheaded by the South Korean firm “Hyundai Engineering”, which secured the contract to construct self-balanced solar power plants in Serbia totaling one gigawatt in capacity, as announced by the Ministry. This project stands as one of the largest renewable energy endeavors currently underway in Europe.

Handanović emphasized the urgency of finalizing all components of the commercial contract in the upcoming weeks to expedite the project’s development phase, followed by the construction of solar power plants. The aim is for these plants to integrate into EPS’s production portfolio by 2028.

“The project for the construction of self-balanced solar power plants totaling 1 GW is pivotal for Serbia’s energy sector and aligns with our strategic objectives concerning energy sector decarbonization. These goals hold significance for our European integration process, as well as for the advancement of our economy and the accessibility of green energy, particularly for export-oriented businesses with high energy demands,” stated Handanović.

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Following a public call conducted last year in accordance with the Law on the Use of Renewable Energy Sources, the consortium led by Hyundai Engineering emerged as the preferred bidder. They are tasked with developing, constructing, and delivering solar power plants totaling 1 GW to EPS, alongside a battery system capable of storing at least 200 MW of electricity, all under a “turnkey” system.

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