The Serbian government and Luxembourg-based investor Securum Equity Partners have signed a binding framework agreement for a 1GW PV deal.
MX Group South East Europe (MX Group SEE) — the EPC contractor for the deal — has announced that the €1.8 billion (US$2.3 billion) deal will consist of 100 10MW solar projects spread across Serbia. The official agreement was signed on October 25 while the memorandum for the development was signed in May 2012.
As part of its contract, MX Group SEE will construct the first 30 projects between April 2013 and December 2013. In 2014 and 2015 it will build 35 10MW projects in each year to make up the 1GW capacity. During the construction phase, it is predicted that almost 3,000 people will be involved in the development.
When complete, it is expected to generate 1.15TWh of electricity every year, which will be purchased by Enerxia Energy.