Hyundai Engineering has announced that it will sign a major contract with the Serbian Government later this month for the construction of a solar power plant with a capacity of 1 GW. This significant project, in collaboration with its US subsidiary and solar company UGT Renewables, was selected as the preferred bidder last November.
The scope of the project includes engineering, procurement, and construction (EPC) of the solar power facility, which will also feature a 200 MW energy storage battery system. The turnkey project is scheduled for commissioning by June 2028, after which Hyundai Engineering will transfer ownership to the state-owned power utility, EPS. The total project value is estimated at approximately $1.48 billion.
This marks a milestone as the first time a South Korean construction company has secured a solar power project in Serbia, and it is poised to be the largest overseas solar initiative awarded to a South Korean firm to date.
