China has committed to investing $2.18 billion in Serbia’s mining and energy ministry to support the development of renewable energy projects. On January 26, 2024, Serbian Zijin Copper, a subsidiary of Zijin Mining, and China’s Shanghai Fengling Renewable signed a memorandum of understanding. The agreement outlines plans for a 1.5 GW wind farm, a 500 MW solar plant, and a hydrogen production facility capable of producing 30,000 tonnes per year by 2028.
The principal investor in the projects will be Shanghai Fengling Renewable. The energy produced by these renewable sources is planned for use at the Zijin-owned copper mine and smelter near Bor, a town in eastern Serbia. Zijin Mining solidified its position in Serbia by becoming a strategic partner in the RTB Bor copper mine in 2018. The company invested $1.26 billion for a 63 per cent stake and subsequently opened the Cukaru Peki underground copper and gold mine in 2021.
Earlier this month, WV International Ventures, a subsidiary of Netherlands-based WV International, announced its intentions to build a 900 MW wind farm in Serbia’s Novi Sad region. The Autonomous Province of Vojvodina’s provincial government stated that the Samos wind park will be built in the northern Serbian towns of Alibunar and Kovacica, with work expected to be completed in two stages. The value of WV International’s investment was not disclosed.
