Securum Equity signs $2.3 bln solar deal for Serbia

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Luxembourg-based Securum Equity Partners said it has signed a 1.75 billion euro ($2.32 billion) deal to purchase photo voltaic panels from Italy-based MX Group for its future 1 gigawatt solar park in Serbia.

Ivan Matejak, the head of the company’s Serbian unit, said on Thursday the solar park in the south of the Balkan country could be the largest in the world when it is completed in three to five years.

“Electricity generated by the solar park will be exclusively for export,” Matejak told Reuters.

Matejak said that some 2,500 to 3,000 workers will be needed to build the solar park that will employ 500 to 600 people when it is connected to the grid.

MX Group may also set up a photo voltaic panels plant in Serbia at a later stage, Matejak added.

Serbia produces 70 percent of its electricity in coal-fired plants and the rest from hydropower.

Source Reuters