Chinese Firm Sinomach Targets Investments in Renewable Energy Projects in Serbia
/LONDON, November 10, 2021, 9:15 GMT, Tanjug, Serbian Ministry of Mining and Energy, RENEWABLE MARKET WATCHTM/ Serbian Minister of Mining and Energy Zorana Mihajlovic met on 19 November 2021 with representatives of the Chinese machinery company Sinomach. They discussed potential investments in the development of the energy sector and the economy in the context of Serbia's potential in the electricity and renewables sector.
Noting that the cooperation with numerous Chinese companies to date had been good, the minister said all Chinese companies were welcome in Serbia, an official statement said. "All Chinese companies are welcome, in particular as regards major infrastructure projects we are planning to carry out in the electricity and renewables sector. The mining and energy projects we are launching are worth over 17 bln euros, with the largest investments being the ones in the field of the electricity sector and capacities utilising renewables," Mihajlovic said.
She added that Serbia had the best investment environment and that, in light of past experiences, Chinese companies wanted to invest in the energy sector as it was the one that would attract the most investments.
A Sinomach representative said the company was ready to expand operations in this part of Europe and expressed the hope the two sides would find a common interest and cooperate on projects. He said Sinomach was one of the world's top 500 companies in the field of transport, military and electric power infrastructure and that Serbia's potential was vast, in particular when it comes to wind farms, hydropower plants and mining,
Large-scale investments in renewable energy projects are providing alternative power sources to traditional coal, and work is being carried out to modernise the district heating networks across the Western Balkans region. In the Western Balkans Solar and Wind Power Market: Outlooks 2020÷2030, more than 135 solar and wind projects across the region are featured, but some of the most important have been financed with the EBRD's support and are as follows:
1) In Albania, the EBRD financed the modernisation of Korporata Elektroenergjitike Shqiptare (KESH), the largest generator of electricity in the country, supporting the company with a restructuring and reform package.
2) The Bank financed the first two large-scale wind farms in Kosovo: Kitka and Bajgora wind farms, providing a concrete way forward to address the challenge of power cuts and pollution caused by the lignite coal powering Kosovo’s two main electricity plants.
3) In Montenegro, following a long policy dialogue on the bankability of the power purchase agreement, the EBRD was the first financial institution to structure a project finance loan for the Krnovo wind farm, the first private wind farm in the country and at the time of financial close also the first private wind farm in the Western Balkans region.
4) In North Macedonia, the EBRD financed ESM, the first large-scale solar power plant on the site of an exhausted lignite coal mine, representing a tangible example of how to implement some of the solutions of the EU Just Transition policy for coal mine regions in the Western Balkans.
5) In Serbia, the Bank backed the construction of the country’s two largest wind farms: the 158MW Čibuk wind farm in Dolovo; and the Kovacica wind farm with a capacity of 104 MW.
The more information and answers to your questions about Western Balkan's solar and wind energy markets, you may read here: Western Balkans Solar and Wind Power Market: Outlooks 2021÷2030
To download the executive summary brochure with sample pages for the solar sector, please access from here: Western Balkans Solar Photovoltaic (PV) Power Market Outlook - Sample
For a better understanding of the benefits of using our reports, you may read here: Benefit List - Reports of Renewable Market Watch - 2021
To download the executive summary brochure with sample pages for the wind sector, please access from here: Western Balkans Wind Power Market Outlook - Sample
About Renewable Market Watch™
Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets of the Asia Countries, Balkan countries, Central and Eastern Europe, CIS states (former the Soviet Union), LATAM countries, and MENA countries. For more information about Renewable Market Watch™ please visit:
