Why did Europe and Serbia sign a lithium deal?

Belgrade (AFP) – The European Union and Serbia signed a deal Friday to develop the supply of lithium seen as a crucial building block to achieve Europe's transition to a green economy. Issued on: 19/07/2024 - 05:19 Modified: 19/07/2024 - 16:21

Will Serbia's 'lithium deal' be a green Boon?

Serbia's "lithium deal" is coming back as part of an initiative that officials in Brussels, Belgrade and Berlin hope will be a huge green boon for the continent. A rather sudden and under-the-radar meeting took place in Serbia's capital last week.

How many MW of battery storage will be developed in Serbia?

Up to 200 MW of battery storage will be developed across the sites. Image: Ministry of Mining and Energy, Tanjug Plans for 1 GW of new solar in Serbia are set to go ahead after the signing of an implementation agreement.

Does Serbia have a solar project?

The contract is the latest in a line of solar projects backed by Serbia’s Ministry of Mining and Energy this year, which includes plans for a 1 GW solar panel factory and another 500 MW of solar. Figures from the International Renewable Energy Agency state Serbia had deployed a total 137 MW of solar by the end of last year.

Will Serbia meet Europe's lithium demand?

The Serbian government said it aims to meet at least 20% of Europe’s lithium demand. For Europe's green transformation, the prospect of a huge lithium supply in the heart of the continent would be a huge relief. Most of the lithium Europe uses currently comes from Asia and South America.

When will Serbia start mining lithium?

Vucic has hinted that Serbia could begin mining lithium as early as 2028. The president has also said the deal would involve guarantees that limited the sale of raw materials from the country and ensure that most of the lithium exports would be through Serbian-produced batteries or component parts.