Photo: EPCG
Elektroprivreda Crne Gore and Nordex signed a contract for the procurement, delivery, installation, commissioning, and maintenance of wind turbines for the Gvozd 2 project.
The contract, signed in Nikšić, Montenegro, represents the continuation of the successful implementation of the first phase of the project—Gvozd 1—and another concrete step toward the decarbonization of the energy sector, Elektroprivreda Crne Gore (EPCG) said.
The nearly EUR 26 million investment is financed by a loan from the European Bank for Reconstruction and Development (EBRD).
With the implementation of the second phase, wind farm Gvozd will become the largest in Montenegro
The Gvozd 2 project includes the installation of three wind turbines with a total capacity of 21 MW and an estimated annual production of 63 GWh.
As a result, the total installed capacity of the Gvozd wind farm will reach 75.6 MW, while the total annual production will exceed 210 GWh, which is sufficient to supply more than 35,000 households, EPCG explained.
In November 2024, the company began the construction of the Gvozd wind farm, with Nordex also contracted as the turbine supplier.
After the second phase is completed, wind farm Gvozd will become the largest wind farm in Montenegro, according to the company.
The total investment is estimated at EUR 107.6 million.
The country currently has two wind farms
Montenegro currently has two wind farms: Krnovo (72 MW) and Možura (46 MW). Several other projects are under development. However, the 118.8 MW Bijela project is the only one with a grid connection agreement.
The contract for Gvozd 2 was signed by Milutin Đukanović, President of EPCG’s Board of Directors, Zdravko Dragaš, EPCG CEO, and Nordex representatives: Anne-Catherine de Tourtier, Vice-President Mediterranean, Maxime Harroy, East Mediterranean Region’s New Markets, and Vladimir Kolarević, Managing Director for Montenegro.
The signing was attended by the Minister of Energy and Mining of Montenegro, Admir Šahmanović, and the Head of the EBRD Office in Montenegro, Remon Zakaria.
Šahmanović: An investment in the security and independence of our state
Milutin Đukanović pointed out that the Gvozd 2 project is another confirmation of the company’s strategic orientation toward sustainable development and a greater reliance on renewable energy sources.
“This investment represents not only progress in the energy sector but also a significant developmental step for Montenegro, contributing to the long-term stability of the system and strengthening the energy power of the country,” Đukanović said.
Dragaš: Continuation of the company’s strong investment cycle
According to Zdravko Dragaš, the signing of the contract is a continuation of the company’s strong investment cycle and the implementation of strategic goals in the green energy sector.
Anne-Catherine de Tourtier stressed that Gvozd 2 is part of a broader regional strategy for the development of renewable energy sources.
“Gvozd 2 is more than just another renewables facility. It is an investment in the security and independence of our state. In a changing world, we choose to build our own capacities for a more stable future for all citizens,” Admir Šahmanović asserted.
Remon Zakaria highlighted the ongoing support of EBRD for the development of sustainable energy projects in Montenegro.
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