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Serbia and Italy Forge Ahead with €250 Million Wind Farm Ventures

Serbia and Italy have reinforced their energy partnership, marking the completion of three wind farms valued at €250 million and planning further renewable projects, highlighting their commitment to sustainable development at the Italy-Serbia Business Forum in Trieste

At the recent Italy-Serbia Business Forum held in Trieste, Serbia‘s energy landscape was thrust into the limelight, showcasing burgeoning collaborations with Italian companies that signify not just economic alliances but a shared vision for a sustainable future.

Dubravka Đedović Handanović, Serbia‘s Minister of Mining and Energy, extended a warm invitation to Italian enterprises, urging them to seize the enhanced investment opportunities within Serbia‘s energy sector. The call comes as Serbia, led by a delegation including Prime Minister Miloš Vučević, marked the completion of three wind farms—a joint project with Italian firms—valued at nearly €250 million, with ten more developments underway.

The energy transition process, according to Đedović Handanović, opens a new chapter for expanding Italian- Serbian cooperation. “We have refined our legislative framework, thus paving the way for diverse investment avenues in renewable energy sources (RES). Come November, we are set to launch new auctions for market premiums, offering about 400 MW capacity, pending market analysis confirmation,” she stated during her panel discussion on ‚ Techni cal Innovations and Green Energy Transition‘.

Serbia in a joint project with Italian firms completed three wind farms valued at nearly €250 million, with ten more developments underway

Additionally, Serbian, Italian, and Chinese companies are spearheading one of Europe’s most ambitious photovoltaic projects, Agrosolar Kula. The project uniquely combines agriculture and energy production across approximately 700 hectares, signalling a dynamic approach to solar energy.

The regional Trans-Balkan Corridor project was also highlighted, promising enhanced connectivity between the electric markets of Romania, Serbia, Bosnia and Herzegovina, and Italy. This initiative is poised to facilitate the integration of substantial capacities from wind and solar energy, projecting an addition of 3.5 GW by the decade‘s end.

Đedović Handanović also touched on the automotive sector›s green transition, noting the commencement of electric vehicle production by Stellantis in Kragujevac this year. This move aligns with strategic documents aimed at boosting the share of RES in transportation. Serbia›s rich mineral resources are seen as a pivotal asset in developing the electric vehicle industry.

Serbian, Italian, and Chinese companies are spearheading Agrosolar Kula, one of Europe’s most ambitious photovoltaic projects, integrating agriculture and solar energy production across 700 hectares

Reflecting on the robust ties between Serbia and Italy, the minister expressed confidence that the forum would mark the beginning of new collaborations and initiatives. During the event, she signed a Letter of Intent for financial support with Italian insurance and financial group SACE, and Serbia‘s public power company, Elektroprivreda Srbije, inked a financial support program with Italian financial institution Cassa Depositi e Prestiti to aid decarbonisation and green transition efforts.

These developments underscore a pivotal era for Serbia and Italy, as they harness shared goals for energy innovation and sustainability, reinforcing not only their economic bonds but also their commitment to a cleaner, greener future.

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