Serbia: Securum offshore investor seeks compensation for its 1Gwh project cancellation

2. August 2013. / News Serbia Energy

“The Government of Serbia has received a memo from the lawyer firm representing “Securum Equity Partners”, which states that the company is suffering losses because of the delay of the construction of the solar park.

As the Government of Serbia has put a lot of effort to provide 10 times more surface area than predicted by the memorandum for the construction of the solar power plant, although the investor did not timely submit specification of technical parameters which land should meet, the Government has intention to terminate the memorandum. Although the Government fulfilled its obligations to investor, it will not seek compensation because of the termination of the memorandum.

The Government of Serbia offered to “Securum Equity Partners” 30,000 ha of land to choose 3,000 for the construction of the solar power plant.

After few months, it turned out that this investor, backed by company based in the offshore zone, is not satisfied with none of the offered locations.

Source;Serbia Energy

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