Agreement on installation of solar panels signed in Vranje - Biggest investment ever in south Serbia, worth EUR 300 million

Source: eKapija Tuesday, 13.09.2011. 13:04
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(Stephen Haw and Miroljub Stojcic)

An agreement that envisages a EUR 300 million investment in solar energy sources in the municipality of Vranje in the project's first phase was signed on Monday (September 12, 2011) in Vranje after five-hour negotiations.

This agreement was signed by Vranje Mayor Miroljub Stojcic, Stephen Haw, president and CEO of a large private company from China, and Euro Solar Park Serbia Director Gvapo Tripovic.

By signing the agreement with the City of Vranje, the company Euro Solar Park has ensured a potential development of a 150-megawatt (MW) photovoltaic park powered by solar energy. With the aim of developing one of the largest solar power parks in Europe, Euro Solar Park has established a strategic cooperation with one of China's largest private companies engaged in renewable energy.

Construction works will be carried out in several phases, whereas the whole project is expected to be implemented within next five years.

The first phase will include the design of a pilot project for a 10-megawatt power plant. The identified location is in Ranutovac, near the city center, on a 30-hectare lot. Implementation of this project will contribute to the strategy of the City of Vranje to become one of the leading "green" cities in Europe. The company is currently in the final phase of negotiations with the Ministry of Infrastructure and Energy on the implementation of the final Power Procurement Agreement (PPA) concerning the pilot project. The intention is to apply for a national tariff for the initial capacity of 10 megawatts, and to export the rest of generated green energy, totaling 150 megawatts, to the EU market.

- After many months of hard work and negotiations, we have a pleasure to announce that we have signed an agreement with the City of Vranje. At this moment we are close to achieving the required economic conditions in order to start the implementation of the pilot project - said Stephen Haw, president and CEO of the company.

- Within next few months, we expect to get a positive response from the Ministry of Infrastructure and Energy concerning the energy permit, as well as to receive support from the City of Vranje and the Government of the Republic of Serbia in the implementation of the initiated investment - Haw stressed.

- Projects in Vranje will not only contribute to a strong expansion of Euro Solar Park in southeast Europe, but they also represent a great opportunity for Serbia to develop its own capacities in the field of renewable energy generation and to promote itself as the energy leader in this part of Europe - said Gvapo Tripovic, director of Euro Solar Park Serbia and regional director for southeast Europe.

- This is the largest investment ever in the region of south Serbia. It shows that the City of Vranje is a serious an responsible partner, and I use this opportunities to invite other investors to come to Vranje - Miroljub Stojcic, mayor of Vranje, said upon signing the Agreement.
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