UGT Renewables Is Working with Serbian Government to Install 1GW of PV Generation

published: 2021-08-13 9:30 | editor: | category: News

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Various renewable energy news websites have reported that the government of Serbia is in talks with UGT Renewables for the installation of 1GW of PV generation. The president’s office of Serbia announced in early August that the country’s energy ministry has signed a cooperation agreement with UGT to build PV power plants that will have a total area of around 2,000ha across 10 or more sites. Based in the US, UGT is a developer of PV projects.

According to the statement from the president’s office, the PV power plants that UGT will be building are expected to help reduce 1.9 million MT of CO2 emissions every year. Business news agency SeeNews reported that Serbia currently aims to have renewables account for 40% of its energy mix by 2040.

Commenting on the partnership with UGT, Aleksandar Vučić, President of Serbia, said that the 1GW deal will offer many benefits if it is carried out according to its terms. Apart from improving the air quality of the country, the implementation of UGT’s PV projects will also be a financial boon as well as a major step forward in both the modernization of the Serbian energy industry and the reformation of the country’s state-owned enterprises.

Balkan Green Energy News reported that the Serbian government is demonstrating its commitment to the European Commission by entering into an agreement with UGT. The European Commission has recently introduced the Carbon Border Adjustment Mechanism, which is basically a tax on goods based on their carbon content. Serbia therefore has to catch up quickly in the development of renewable generation. Under the agreement, Serbia and UGT will jointly build PV power plants and energy storage facilities. The energy ministry said that the goal of the agreement is to fulfill the country’s potential renewable generation capacity.

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