Serbia, Fintel Energija and MK Group have officially started the realization of the joint project Agrosolar

, News Serbia Energy

By signing the Memorandum of Understanding with the Chinese company Power China, the companies Fintel Energija and MK Group have officially started 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 venture that uses solar energy and at the same time enables sustainable agricultural production under solar panels. This is the first project of this type in the Balkans and the largest in Europe, and the value of the investment amounts to 340 million euros.

CEO of Fintel Energija Tiziano Giovannetti said that by signing this agreement, the company has defined a clear interest of both parties to take part in the largest agro solar project in Europe. A particularly important step is the construction of a 50 kW pilot solar park, which will begin in the next three months. The Agrosolar project will cover 770 hectares in the municipality of Kula. The solar power plant will have a capacity of 660 MW, and the planned annual production of green energy is about 832 GWh, which meets the needs of about 200,000 households. In this way, Fintel Energija continues to contribute to achieving the goal of Serbia to increase the share of energy from renewable sources to at least 40 % by 2040.

CFO of MK Group Andrija Vuckovic said that Agrosolar brings great innovation through the synergy of green energy and sustainable agriculture. Both areas have long been part of the MK Group’s agenda, but also Serbia’s national strategy. This project will bring another innovation to the Serbian energy sector, as a plant for the production of green hydrogen powered by a solar power plant will be built within the second phase. In addition to green hydrogen, this technology will enable the production of 300 tons of urea mineral fertilizer per day, obtained in a completely sustainable way.

The Chinese company PowerChina is one of the largest construction companies in the world in the field of infrastructure and the energy sector.