British Company Hive Energy Secures Financing for 14 Solar Projects in Serbia of 2.2 GW

The British company Hive Energy has announced that it has secured a banking guarantee of 19 million pounds (22.3 million euros) as support to projects in Serbia, Croatia, Turkey and Poland.

The guarantee of Santander Bank, with the support of UK Export Finance (UKEF), will enable Hive to finance the current projects in Turkey, where it has already developed 1 MW of photovoltaic power plants up to the operating status, and expand to new markets such as Serbia, announced the British company, which develops solar energy, battery storage and green hydrogen projects worldwide.

– We now have additional financial capacity to ramp-up activity in Turkey, Serbia and other territories helping us to deliver clean energy more quickly and more widely in our mission to reduce global carbon emissions – said Roy Naismith, Chief Financial Officer of Hive Energy.

Hive Energy entered the RES market in Serbia, Bosnia and Herzegovina and Montenegro at the end of 2021, and in May 2022, it opened its first office in this region in Belgrade, which is the regional hub for said markets.

In January last year, the company announced that it was working on the development of 14 projects in Serbia, with a total capacity of 2,211 MW (2.2 GW). In addition to that, it is also exploring the possibility of projects in Bosnia and Montenegro.

– We have secured land for three projects in Serbia, with a combined power capacity of 450 MW. In coming months, we expect to secure land for an additional project at 40 MW and by mid-2023, our hope is to secure a further 290 MW – Hive Energy announced at the time.

After that, in May 2023, Prokuplje adopted the decision on the preparation of the Detailed Regulation Plan of the Solar Power Plant South Two in the territory of the village of Donja Strazava.

As Bojan Bajceta of Hive SPP South Two doo Prokuplje said for eKapija, the plan is to build a solar power plant of 40 MW on an area of 47 hectares.

In June 2023, the members of the Municipal Assembly of Pirot adopted the decision on the preparation of the Detailed Regulation Plan for the construction of the Solar Power Plant East One in the village of Blato. According to Bojan Pesic, the head of the Department for Urban Planning and Housing and Utility Activities of Pirot, this is a big solar power plant, on an area of around 57 ha, with a power of 50 MW, and the investor is East One from Belgrade, owned by the British Hive Energy.

B. P.

HIVE SPP SOUTH TWO DOO PROKUPLJE

Hive spp east one doo Beograd

Hive Energy

Hive SPP South Two doo Prokuplje

East One Belgrade

Santander Bank

UK Export Finance

village of Donja Stražava near Prokuplje

village of Blato near Pirot

Municipality of Pirot

Bojan Pešić

Bojan Bajčeta

solar power plant South Two

solar power plant East One

solar projects in Serbia

construction of solar power plants

banking guarantee