Serbia’s AVR Solar Park Istok and Power Construction Corporation of China (PowerChina) have signed a memorandum of understanding (MoU) to build a 150 MW solar park in the southern Serbian town of Bela Palanka, the local government said.
Construction is expected to start next year, with plans for additional projects to expand capacity up to 500 MW in the future, the Bela Palanka municipal government said in a press release.
The realisation of this project will ensure better energy efficiency, but also additional financial resources that will help the economic development of the area, said Bela Palanka municipality president, Goran Miljkovic.
According to the Serbian business registry, AVR Solar Park Istok, established in May 2023, is wholly owned by the local company AVR Group.
Power Construction Corporation of China (PowerChina) is an integrated construction group that provides investment and financing, planning design, engineering construction, equipment manufacturing, and operation management for clean and low-carbon energy, water resources, environmental construction and infrastructure. The company is based in Beijing, has 164,165 employees and 2022 revenues of 99 billion USD.
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