Hunan Rich Photovoltaic Science & Technology Co. from China has expressed interest in establishing a new solar panel production facility in Serbia, along with constructing a 200-megawatt solar power plant. The company, Hunan Rich, anticipates receiving support from the Government of Serbia in compliance with relevant laws, as outlined in a Memorandum of Understanding signed on May 9.
The memorandum, while non-binding, grants either party the freedom to withdraw from further discussions without any obligations.
Operating in the solar panel industry, Hunan Rich Photovoltaic Science & Technology seeks to expand its business by establishing a new production plant in Serbia, as stated in the memorandum provided by the Ministry of Mining and Energy.
The investment project entails setting up a new solar panel production plant with a 1 GW capacity in the municipality of Paraćin, alongside constructing a 200 MW solar power plant, the memorandum specifies.
Over a three-year investment period, an estimated €30 million will be allocated for the solar panel production, leading to the employment of 180 new workers.
The planned investment for the 200 MW solar power plant amounts to €280 million, a figure previously announced by the Ministry.
Additionally, the investor expects governmental support in line with relevant laws, with the Government of Serbia expressing its intention to facilitate the investment project according to its competencies and local regulations. This includes administrative and advisory assistance.
The investor pledges to assist Serbian authorities by providing necessary documentation to expedite permit and license issuance for the investment project.
Conversely, the Government vows to utilize its authority to coordinate and support competent Serbian authorities in obtaining required permits and licenses for project realization.
