Elektroprivreda Srbije, Serbia’s power monopoly, will sign a preliminary agreement next month with New Generation Power on developing solar, wind and hydro plants that may total 1,430 megawatts.
The state-run utility and a consortium led by the Chicago, Illinois-based NGP, comprising units of Eaton Corp. (ETN), Martifer SGPS SA (MAR), Toshiba Corp., (6502) Wanxiang International Ltd. and Orenco Hydropower, will sign the letter of intent on March 20 on the potential investments that may reach $4 billion, the Serbian company said in an e-mailed statement today, after meetings with NGP officials in Brussels.
The projects include solar plants of 50 megawatt combined capacity, biomass-fueled plants totaling 200 megawatts, wind farms of as many as 450 megawatts and 680 megawatts in hydro plants, according to the statement.
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