A Chinese company named Hunan Rich Photovoltaic Science and Technology has signed a memorandum of understanding (MoU) with the Serbian government to invest in establishing a solar module manufacturing fab with 1 GW annual installed capacity.
The Serbian Minister of Mining and Energy Dubravka Đedović Handanović said Hunan Rich estimates an investment worth €30 million over a period of 3 years on the solar panel factory. It will be located in the Paraćin region, according to the MoU.
The same company also plans to invest another €280 million to construct a solar power plant with 200 MW capacity.
Handanović also signed another MoU on the occasion with another Chinese company for the construction of a plant for the processing of oil and oil derivatives.
Serbia is already home to a 150 MW annual solar module production facility of DoMi Eko Solar which the equipment supplier Ecoprogetti called the country's 1st solar panel production line (see Solar Module Production Line Operational In Serbia).