First Agrisolar Project in the Region Officially Begins – Investment Worth EUR 340 Million

With the signing of the memorandum of understanding with the Chinese company Power China, the companies Fintel Energija and MK Group officially began the realization of the joint project Agrosolar in Kula. Having positioned themselves as leaders in the production of electricity from wind energy, they are starting a pioneering endeavor which uses solar power and at the same time enables a sustainable agricultural production beneath the solar panels. This is the first project of its type in the Balkans and the biggest one in Europe, and the value of the investment is EUR 340 million.

– With the signing of this agreement, we defined the clear interest of both sides to take part in the largest agrisolar project in Europe. An especially important step is the construction of a pilot solar park of 50 kilowatts, which is to begin in the next three months. The Agrosolar project will spread on 770 hectares in the territory of the municipality of Kula. The solar power plant will have a capacity of 660 megawatts, and the planned annual production of green energy is around 832 gigawatt-hours, which meets the needs of around 200,000 households. This way we continue contributing to the realization of the goal of the Republic of Serbia to increase the share of energy from renewable energy sources to at least 40% by 2040 – stated Tiziano Giovannetti, the CEO of Fintel Energija.

– Agrosolar brings a big innovation through the synergy of green energy and sustainable agriculture. Both fields have been part of the agenda of MK Group for a long time, but also the national strategy of our state. This project will bring another innovation to the Serbian energy sector, since a facility for the production of green hydrogen, which will be powered by the solar power plant, will be built within the second phase. In addition to green hydrogen, this technology will also enable the production of 300 tons of urea mineral fertilizer a day, produced in a wholly sustainable way – stated Andrija Vukovic, the CFO of MK Group.

The Chinese company PowerChina is one of the biggest construction companies in the world when it comes to infrastructure and energy.

– It is our great pleasure to make the cooperation and partnership with Fintel Energija and MK Group, pioneers and leaders in this field in Southeast Europe, official with the signing of this agreement. We are looking forward to working on the project and the joint goal of developing energy from renewable sources in Serbia and contributing to achieving carbon-neutrality – stated Yang Bo, a representative of PowerChina in Serbia.

Fintel Energija and MK Group have been among the leading companies in the production of electrical energy from wind in the Balkans for a whole decade now. In late 2015, the “Kula” wind farm opened, which was also the first one in Serbia, with a total installed power of 9.9 MW, and less than a year later, the second wind farm, “La Piccolina”, with a total installed power of 6.6 MW, was opened. In September 2019, with the launching of the “Kosava” wind farm in Izbiste, with an installed power of 69 MW, as many as 45,000 households were provided with “green” electricity.

MK Group d.o.o. Beograd

Fintel Energija a.d. Beograd

Powerchina International Group Limited Ogranak Beograd

MK Group

Fintel Energija

PowerChina

Andrija Vuković

Yang Bo

Tiziano Giovannetti

Agrosolar Kula

renewable energy sources

La Piccolina wind farm

Kula wind farm

Košava wind farm

green electricity

carbon neutrality

solar power plant

memorandum of understanding

solar park