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Renewable energy

Hyundai Engineering UGT Renewables Consortium Advances Renewable Energy Projects in Serbia

Strategic Insights

— 2 min read

The Hyundai Engineering UGT Renewables consortium, a strategic partnership aimed at promoting renewable energy in Serbia, is making significant progress in the design and permitting procedures for a group of photovoltaic plants. As part of this endeavour, the consortium is planning to develop a total of 1.2 GW of photovoltaic plants, with 1 GW of connections, alongside 200 MW of operational battery energy storage systems and 400 MWh of capacity. This ambitious project has the potential to generate 1.5 TWh of electricity per year, effectively offsetting over one million tons of carbon dioxide emissions.

Key Takeaways:

  • The Hyundai Engineering UGT Renewables consortium is designing and permitting a group of photovoltaic plants with a total peak capacity of 1.2 GW and connections of 1 GW in Serbia.
  • The project will include battery energy storage systems (BESS) with a combined operational power of 200 MW and a maximum capacity of 400 MWh.
  • The facilities will be handed over to Serbias state-owned power utility Elektroprivreda Srbije (EPS).
  • The PV plants are expected to generate 1.5 TWh of electricity per year, avoiding more than one million tons of carbon dioxide emissions.
  • The project is considered one of the largest renewable energy projects in Europe and a cornerstone for Hyundai Engineering.
  • UGT Renewables has a global project pipeline of 20 GW, with solar power and energy infrastructure projects accounting for 20 GW.
  • The consortium has established partnerships worth over USD 30 billion, including with companies like Nextracker, Shoals Technologies, Hitachi Energy, and Tesla Energy.
  • The strategic partnership in Serbia marks the beginning of the consortiums regional expansion in the surrounding region.

Statistics:

  • 1.2 GW: Total peak capacity of photovoltaic plants for the consortium's project in Serbia.
  • 1 GW: Total peak capacity of connections for the photovoltaic plants.
  • 200 MW: Combined operational power of battery energy storage systems (BESS).
  • 400 MWh: Maximum capacity of battery energy storage systems (BESS).
  • 1.5 TWh: Expected annual electricity generation from the PV plants.
  • 1,000,000 tons: Estimated carbon dioxide emissions offset by the PV plants.
  • 20 GW: Global project pipeline of UGT Renewables.
  • 20 GW: Solar power and energy infrastructure projects accounted for by UGT Renewables.
  • USD 30 billion: Total value of partnerships established by the consortium, including with companies like Nextracker, Shoals Technologies, Hitachi Energy, and Tesla Energy.

Sources:

  • "Belgrade Energy Forum BEF 2025" (no date mentioned)
  • "Hyundai Engineering UGT Renewables consortium advances design and permitting procedures in Serbia" (no date mentioned)
  • Global Data Point (2022)
  • SyndiGate Media Inc. (2022)

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