The President of the Republic of Serbia, Aleksandar Vučić, met today with the representatives of the company UGT Renewables LLC, after which an Agreement on Cooperation was signed between the Ministry of Mining and Energy of the Government of the Republic of Serbia and the representatives of this company. President Vučić said that this Agreement is the beginning of a new era and an important step into the future for the energy security of our country, but also one of the projects of crucial importance for economic development and success within the green agenda of Serbia.

After the signing of the Agreement, the President emphasized that it is important to have as many renewable energy sources as possible and that talks on the conditions are now to follow, and he expressed confidence that "the best possible agreement will be reached, which is crucial for the success of our country within the framework of the green agenda".

The president said that the construction of solar panels on an area of about 2,000 hectares and a dozen locations throughout Serbia was being negotiated with the American company, which would provide an additional gigawatt of electricity and reduce carbon dioxide emissions by 1.9 million tons per year.

"A big and important thing for Serbia, I believe that this will contribute to the further interest of energy and innovative companies to invest in our country", the president pointed out, adding that after the signing of the contract, the construction would take about two years.

"This is a great investment, that contributes to the economic growth of Serbia", President Vučić emphasized and added that in this way, Serbia will reform and modernize the energy sector. The President pointed out that this project creates new opportunities for attracting other investors, who see the arrival of American investors as a positive signal.

The agreement was signed by Zorana Mihajlović, Deputy Prime Minister and Minister of Mining and Energy, and Peter Goodall, CFO at UGT Renewables LLC. The signing was also attended by US Ambassador Anthony Godfrey.