Serbia: Securum OneGiga project under energy ministry inspection, investor failed to provide agreed obligations

6. August 2013. / News Serbia Energy

Announced investment of company “Securum Equity Partners International” of 1, 75 billion euros for the solar panels construction is the screen for the state robbery. In fact, companies that stand behind these suspicious investors are “Algebra investments” and “Algebra management”, and as it was revealed, they are register in off shore zones on Cayman Island and Delaware in USA.

Company “Securum Equity Partners International”, with whom Serbian government, on proposition of Ministry of Finance and Economy with Mladjan Dinkic in the lead position, signed contract on the biggest solar park construction in Europe, worth 1, 75 billion euros, never had intention to invest in Serbia, but to get 3.000 hectares of land that could resale, stated well informed source of Kurir daily.

Recently created

All mentioned companies that are related with solar park investors do not have their own internet presentation, but only cut version of their activity with email address and contact numbers on Malta and in Belgrade.

– It has to do with suspicious companies that were recently founded, such as “OneGiga solar park incubator”, which arose after signing framework contract with Serbian government on 18. 11. 2011. that is just before signing of comprehension memorandum on 8. May 2012.

Later the same company was signatories of umbrella contract with government on Ministry of Finance suggestion. That company and its grant “Securum Equity Partners International”, but also all those that are related with them, do not have business history and experience for the job they are represented for. And, on other side, they apply for the projects worth more than billion euros?! –  says our source and states that the whole story is theme for the MUP, which also has to include Interpol in order to get real information about people who represented those off shore companies.

They wanted dispute with state

According to him, with contract from 18. November 2011. it is predicted that construction of this solar park, with power of 1.000 MW on the surface of 3.000 hectares started  no later than at the end of the summer, and  “OneGiga solar park incubator” does not even chose location.

They did not do anything because their intention was not to produce solar energy, but to get into dispute with state in order to provide 3.000 hectares of land on favorable conditions and to earn on damage. Because of that,  none of suggested locations is not adequate to them.  It is suspicious company which entered in business both in Slovenia and Italia in the same way, through its branches, where also did not respect what was arranged- says Kurir source and added that also was suspicious why nowhere in the world did not exist facility for the solar energy production, which has power of 1.000 megawatts in the packet.

Suspicious earning

The project of solar park construction on which state should earn 28 million euros per year is under question, also confirmed Dejan Trifunovic, assistant minister of energy, development and environment.

– Attitude of Ministry of Finance was that the contract should be signed and that chance to do something should be given to the company “Securum Equity Partners International”. Minister of Finance Mladjan Dinkic wanted this company to come and make agreement with Government, worth 1, 75 billion euros, about solar parks construction on the surface of 3.000 hectares.

We offered them not only 3.000, but 30.000 hectares of surfaces recorded in detail in the south of Serbia. After few months they said that suggested surfaces were not adequate. After their conclusion that only surface of 200 hectares was adequate, we agreed that they could construct small solar park of 100 MW power on this area, but they still did not do that.  From the beginning Ministry of Energy suspected because the similar proportion project recently started to develop in North Africa- says Trifunovic.

We have credibility

Igor Vukmirovic, director of company “Securum Equity Partners “, says that this company sent more than 75 official documents to Serbia and received from Serbia, in which company in the most pleasant way asked for “support and cooperation”.– Company has another contract with one of the biggest European company for the solar parks construction. And one more information, Italian company “Terna”, world leader in transmitted electricity system, came to Serbia on our call on 23. may 2013 to talk with minister of Energy, and one of themes also was “OneGiga project”. These are only some information that our company has credibility to discuss with the biggest companies within energy area- says Vukmirovic.

We also have to pay 900.000 euros

If we talk about umbrella agreement, completed inconveniently for Serbia and that maybe already exist conditions that “Securum Equity Partners International”, based on past deadlines that are indicated in document, seeks compensation of 900.000 euros.

Many investor errors

In the Ministry of Finance and Economy stated that this contract would not result any damages for Serbia because Serbian government completed its obligations to investors.

-At the proposal of Ministry of Energy, ministry of Finance and Economy made proposition for solution of incurred situation that, after adjustment with all competent authorities, Government of Serbia will send to all legal investor representatives – say in that ministry and add that Serbia proposed to investor that from surface of 30.000 hectares on south and east south of Serbia chose necessary 3.000.

Source; Serbia Energy/ Kurir daily

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