Chinese company to enter Serbia's wind energy market

BELGRADE - China's Huayi Wind Energy Co Ltd (HEAG) opened its regional office on Thursday, marking the company's official entry into wind energy market in Serbia and the Balkans.

An opening ceremony was held at the regional office, located in Belmax Center of the Serbian capital. It was attended by Serbian government officials, officials from the Chinese embassy to Serbia and other diplomats.

At the ceremony, Zhang Xuemin, general director of HEAG, expressed confidence in the regional office's development.

"Based on our thorough evaluation, Serbia and the region have a great potential in the field of wind power, which is why we come here in Serbia", he said in a speech, adding that the company's arrival in Serbia is of great importance for its further expansion in the European market.

HEAG, founded in 2002, has been engaged in the design, manufacturing, sales and maintenance of wind turbines and wind farms.

According to HEAG, the regional office will adopt such cooperation models in the region as engineering, procurement, and construction(EPC), equity investment, equity cooperation and direct sale, which will be flexible for potential partners.

Secretary of State of the Serbia's Ministry of Trade, Tourism and Telecommunications Stevan Nikcevic welcomed the establishment of HEAG's regional office.

"China is one of Serbia's most important trade partners, with bilateral cooperation producing more and more fruits. The founding of the HEAG regional office will bring the latest technology to Serbia, and promote the development of Serbia's renewable energy," he said.

Serbia is exerting itself to the development of renewable energy to meet European Union standards. Serbian Energy Minister Aleksandar Antic said in November 2015 that Serbia will improve its share of renewable energy from 21 to 27 percent, which creates a big opportunity for wind energy companies.