Chinese company Hunan Rich Photovoltaic Science and Technology will invest more than €300 million in the development of a 1 GW solar panel factory and a 200 MW solar power plant in Serbia. The agreement is one of two that the Minister of Mines and Energy signed with Chinese companies this week.
Hunan Rich Photovoltaic Science and Technology and Serbian Minister of Mines and Energy Dubravka Đedović Handanović signed a memorandum of understanding this week for the construction of a solar panel factory and solar power plant in the country.
The Chinese company, based in Changsha, the capital of China’s Hunan province, has committed to developing a 1 GW solar panel factory in Paraćin, central Serbia, through an investment of €30 million over three years.
Hunan Rich will also invest another 280 million euros in the construction of a 200 MW solar power plant, Đedović Handanović said.
The agreement is one of two that the minister signed with Chinese energy companies this week. A second framework agreement with China Energy International Group provides for the construction of an oil and oil derivatives processing plant in Smederevo, eastern Serbia, through an investment of €2 billion.
Combined, the three projects are expected to support the direct employment of 700 people, including 180 people at the solar panel factory, and the indirect employment of a further 2,400 people.
Serbia, which had 137 MW of solar power at the end of last year, announced plans for its second renewable energy auction in February.
In January, Đedović Handanović signed a memorandum of understanding with Shanghai Fengling Renewables for the construction of several renewable energy projects across Serbia, including 500 MW of solar energy. The country’s first solar panel manufacturer, Domi Eko Solar, commissioned a production facility of 150 MW TOPCon modules at the end of last year.
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