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© Serbian Ministry of Mining and Energy
Serbia has today (January 26) secured €2bn ($2.17bn) of Chinese investment to build renewable power plants and a hydrogen production facility.
The Serbian Ministry of Mining and Energy signed a Memorandum of Understanding (MoU) between China’s Shanghai Fengling Renewable Co. and Chinese-owned Serbia Zijin Copper to develop projects and invest in Serbian renewable energy.
Under the MoU, the Chinese renewables company will invest around €2bn to develop 1.5GW of wind turbines and 500MW of solar power plants, as well as a green hydrogen plant with production capacity of approximately 30,000 tonnes per year.
Energy produced by the produced would be used in a Zijin copper mine and smelter near the eastern Serbian town of Bor, the Ministry said.
Zijin took over the Bor mine in 2018 after acquiring a majority stake in the copper complex. The mining company has placed a focus on increasing production.
Having previously faced environmental concerns, the Serbian Government and Zijin had been working to address issues, with the company committing to environmental protection measures and regulatory compliance.
Dubravka Djedovic Handanovic, Serbian Minister for Mining and Energy, said, “That energy produced here in Serbia, in Bor district, using our solar and wind energy potential, which is a step further towards sustainable mining that is our goal while respecting the protection of the environment.”
Under Serbia’s wider energy plans, the country aims to reduce dependency on imported energy, in part by developing its renewable energy sources.
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