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Serbia Commences Construction of Solar Power Plants Totaling 1 GW Capacity This Year

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Finance Minister Siniša Mali held a meeting with financiers of renewable energy projects in Europe. He announced the commencement of the construction of solar power plants with a total capacity of 1 GW, marking the largest investment in renewable energy in Europe this year.

Minister Mali stated that the best global companies and financial institutions are involved in this project, including export credit agencies such as US Exim, MIGA, the Swedish Export Credit Corporation, and others.

As he mentioned, the implementation of this project is expected to provide an additional gigawatt of electrical energy from renewable sources, with an annual production of 1.2 TWh.

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Mali emphasized that Serbia, with its economic development in the last decade, has opened doors to major European projects. Just last year, the country secured 4.5 billion euros in foreign direct investments.

“The largest companies in the energy sector, united around the idea of a joint approach to energy projects in Serbia, are eager to invest. All of this is confirmation that we have found sources of future growth, which is a significant boost to our investment plans,” stated Mali.

The construction of solar power plants is expected to be completed by 2028.

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