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CWP Europe signs an investment agreement for 300 MW

CWP Europe and Power China Resources have signed an agreement to build Serbia's largest wind power plant, Vetrozelena, with a planned installed capacity of 300 MW. This project represents one of the largest foreign direct investments in Serbia and will provide green electricity to more than 185,000 households.

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On April 21, 2023, CWP Europe, the leading renewable energy developer in Southeast Europe, and Power China Resources signed an investment agreement to build the largest wind farm in Serbia. The agreement was signed in Belgrade by He Shiyou, executive vice president of PowerChina Resources, and Dimitar Enchev, managing director of CWP Europe.

CWP’s Vetrozelena wind farm will consist of 48 turbines with a planned installed capacity of 300 MW. The project will reduce CO2 emissions by approximately 820,000 tons per year and provide green electricity to over 185,000 homes. The Vetrozelena wind farm will be the largest wind power plant in the country when completed in 2025.

Combining the knowledge of CWP Europe and Power China Resources

This collaboration between CWP Europe and Power China Resources creates favorable conditions for further renewable energy developments in Serbia and shows that the country is on the path to diversify its energy mix. Both companies are in a unique position to collaborate and combine global knowledge with specific local experience.

Dimitar Enchev, CEO of CWP Europe, said, “We are delighted to welcome PowerChina Resources as a partner in the 300 MW Vetrozelena wind farm. This flagship project will be the largest wind farm in Serbia and one of the largest in the region when completed in 2025. Representing one of the largest foreign direct investments in Serbia, which will provide clean, low-cost electricity, the project is an important step towards diversifying and decarbonizing Serbia’s energy mix.”

Two companies firmly established in the market

CWP Europe is a leading company in the development of renewable energy projects in South East Europe. Over the past 15 years, CWP has invested in sustainable development and energy transition in the region and has already successfully completed some of the largest wind farms in the region, including the largest wind farm in Europe – the 600 MW Fântânele-Cogealac wind power plant in Romania. It is currently developing more than 6 GW of renewable energy capacity in Serbia, Bulgaria, Romania, Montenegro, Albania, Bosnia-Herzegovina, Slovenia, Moldova and Ukraine. CWP Europe is a joint venture between CWP, a leading global renewable energy company, and Mercuria Energy Trading, one of the world’s largest independent energy traders with over $140 billion in revenues.

PowerChina Resources Ltd. is a platform company specialized in international investment business of Power Construction Corporation of China Ltd. founded in 2012 in Beijing. It currently owns and manages 23 investment projects with a total capacity of 5333.5 MW worldwide. The total assets in 2022 amounted to 60 billion yuan (8.3 billion euros).

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