In Sjenica in southwestern Serbia, Australian renewable energy company CPW Global is planning to build a 50 MW solar plant. The plant is expected to be built through a special purpose vehicle Kima Solar, with an investment of around 40 million euros and should be commissioned in 2023. The project will sell produced electricity on the local energy exchange (SEEPEX) or other off-takers under a power purchase agreement.
Director of Kima Solar Nikola Stamenov said that the project may also participate in Serbia’s future renewables auctions, which will be decided once the details of the auctions will be known. Regarding the targeted levelized cost of energy for the project, Stamenov said his assumption was that it would be competitive with current market prices, without providing specific figures.
When built, it will be the country’s first operational large-scale solar power plant. More projects should materialize when the auction scheme for renewables promised by the Government are put in place.
Serbia had an installed solar capacity of just 29 MW at the end of 2020. Last year, only 6 MW of new solar capacity was introduced to the energy system.
