Photo: EPCG
Renewable energy investor Alcazar Energy Partners has signed a memorandum of understanding with Montenegrin state power utility Elektroprivreda Crne Gore (EPCG), initiating negotiations on a power purchase agreement (PPA) for electricity that will be produced by Alcazar’s future 118.8 MW Bijela wind farm.
Alcazar Energy acquired the rights to the Bijela wind farm project in September 2023. A year later, it signed a contract for the construction of infrastructure for connecting the facility to the grid.
A key component of the government’s 2040 National Development Strategy, Bijela will support Montenegro’s commitment to reducing greenhouse gas emissions, Alcazar said in a press release. The largest wind farm in Montenegro will provide clean energy to more than 16,000 households while preventing the release of up to 230,000 tons of CO2 annually, according to the statement.
The wind farm will provide green energy to more than 16,000 homes
The development of Bijela, backed by the European Bank of Reconstruction and Development (EBRD), will support Alcazar’s strategic expansion in the Western Balkans and it target of developing 1GW of renewable energy in the region, according to the statement.
“This partnership is continued evidence of our commitment to developing the largest renewable energy platform in the Western Balkans,” said Daniel Calderon, Co-Founder and Managing Partner of Alcazar Energy Partners.
The Bijela project supports Alcazar’s ambition to develop 1 GW of renewables in the Western Balkans
Ivan Bulatović, the executive director of EPCG, described the memorandum of understanding as “a crucial step in strengthening Montenegro’s energy stability.”
“Cooperation with renowned international partners, such as Alcazar Energy Partners, not only enables the modernization of the sector but also accelerates the transition to cleaner and more sustainable energy sources,” he added.
Alcazar Energy Partners is an independent sustainable investment manager with a strong track record in developing utility-scale renewable energy projects in emerging and growth markets since 2014, reads the press release.
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