Hunan Rich Photovoltaic Science and Technology and Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović, signed this week a memorandum of understanding for the construction of a solar panel factory and solar 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 a €30 million investment over three years.
Hunan Rich will also put a further €280 million towards the construction of a 200 MW solar power plant, Đedović Handanović said.
The agreement is one of two the minister signed with Chinese energy companies this week. A second framework agreement with China Energy International Group will see the construction of a plant for the processing of oil and oil derivatives in Smederevo, eastern Serbia, through a €2 billion investment.
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.
Serbia, which had 137 MW of deployed solar at the end of last year, announced plans for its second renewables auction in February.
In January, Đedović Handanović signed a memorandum of understanding with Shanghai Fengling Renewables for the construction of several renewables projects across Serbia, including 500 MW of solar. The country’s first solar panel producer, Domi Eko Solar, switched on a 150 MW TOPCon module manufacturing facility towards the end of last year.
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