Spanish renewable energy company Wind Alliance Group signed a memorandum of understanding (MoU) with Serbia's Ministry of Energy under which the company and the Serbia government will cooperate on promoting and developing solar energy projects. An investment of EUR 223,000 will be made for this purpose. The money will be used for exploration and assessment of solar energy potential in Serbia, as well as for the development of demonstration technologies and projects using solar energy.

Of the total renewable energy potential in the country, solar energy is estimated to account for about 14%, which is enough to cover water heating needs of about 2.5 million households in the country.

Apart from this solar energy initiative, Wind Alliance Group is already involved in developing a 350 MW wind farm near the city of Pancevo. The wind farm represents a EUR 420 million investment. Construction should be completed within the next three years.

[source: B92]