The Serbian government on Tuesday signed a memorandum for the world’s largest solar park, reported the Serbian news agency Tanjug.
Covering 3,000 hectares of land, the proposed solar park would have an estimated capacity of 1,000 MWp, and cost approximately two billion euros (2.6 billion U.S. dollars).
Oliver Dulic, Serbian Minister of Environment, Mining and Spatial Planning signed the agreement with managing staff of Luxembourg-based Securum Equity Partners Europe in a ceremony attended by Serbian Prime Minister Mirko Cvetkovic.
Dulic said construction of the solar park could require up to five years, involving some 3,000 workers. Serbia has agreed to lease the land free of charge to Securum, but expects to generate 750 million euros in taxation from the solar park.
Matejak said construction could start as early as the beginning of next year, once a final location for the solar park is found.
The company chose to build the solar park in Serbia because it receives about 40 percent more solar radiation than other parts of southeast Europe and because it has an industrial tradition with a highly skilled labor force, Matejak added.