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Unsubsidized 50 MW PV project under development in Serbia

Australia-based renewable energy company CPW Global is planning to build a 50 MW solar plant in Sjenica, in the Zlatibor District of southwestern Serbia.

The plant is expected to be built by the special purpose vehicle Kima Solar with an investment of around €40 million and to be grid-connected in 2023. “The project is being planned to sell power to the Serbian South East European Power Exchange (SEEPEX) or other off-takers under a power purchase agreement,” Kima Solar’s director, Nikola Stamenov, told pv magazine, adding that the project may also participate in Serbia’s future renewables auctions. “Once the details of the auctions will be known, we will decide if and in what capacity we shall participate.”

With regard to the targeted levelized cost of energy (LCOE) for the project, Stamenov said his assumption was that it would be competitive with current market prices, without providing specific figures.

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When built, the solar facility will be the country’s first operational PV plant. More projects should materialize when the auction scheme for renewables promised by the government are put in place.

According to the International Renewable Energy Agency, Serbia had an installed PV capacity of 29 MW at the end of 2020. Last year, only 6 MW of new PV systems were deployed in the country.

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Source: pv magazine