Chayton Capital, Montenegro’s EPCG eye new unit in TPP Pljevlja

chayton capital epcg montenegro memorandum pljevlja abazovic

Photo: Government of Montenegro/Flickr


April 13, 2023






April 13, 2023





United Kingdom–based Chayton Capital, the Government of Montenegro and state-owned power utility Elektroprivreda Crne Gore (EPCG) have signed a memorandum of understanding on the development of an industrial complex in Pljevlja. Projects include the construction of a new unit in the Pljevlja coal plant.

The memorandum of understanding was signed by Prime Minister Dritan Abazović, executive director of EPCG Nikola Rovčanin, and David Allen, a representative of Chayton Capital.

According to the deal, the British company will carry out a feasibility study divided into seven industrial and infrastructure segments, for the town and municipality of Pljevlja, which hosts the country’s only coal-fired power plant. If the projects are feasible, they could bring EUR 700 million in investments and around 600 jobs.

The three parties said in the memorandum that they are willing to invest in industrial infrastructure in the Pljevlja region based on the principles of environmental, social, and corporate governance (ESG) and circular economy.

The first segment is the modernization of production at thermal power plant Pljevlja. It envisages the construction of a CFB boiler in line with the highest environmental standards to enable 0% to 100% biomass use, and investment in facilities for capturing and processing carbon dioxide and other waste gasses, the memorandum reads.

Fuel for the boiler would be produced from waste lumber and other locally available resources

The new unit would operate in parallel mode with the existing one, which is fueled by coal, and produce 150 MW of thermal energy, replacing 25% of its 600 MW capacity, the document adds.

The fuel for the new boiler would be produced from waste lumber and other locally available resources in a recycling, waste treatment and biomass facility.

One of the segments would be the development of environmentally friendly agricultural production based on the utilization of CO2, thermal energy and byproducts from the operation of TPP Pljevlja.

The memorandum also envisages the construction of plants that would make cement, gypsum and innovative prefabricated building elements, as well as the opening of a faculty of mining and geology and a secondary technical school in Pljevlja.

Abazović: The project will be in line with all environmental standards and EU regulations

Prime Minister Dritan Abazović stressed the memorandum enables the transition to the next phase of the project, which is the preparation of a feasibility study. If it is positive, concession and other steps will follow, he claimed.

He noted it is the first time that Montenegro is combining several activities in one industrial project. The application of all environmental standards and EU regulations is a top priority, he added.

David Allen from Chayton Capital company stressed the projects would result in people returning to Pljevlja instead of leaving the town.

The project will promote energy production with a focus on environmental protection, create new jobs and improve the socio-economic environment while respecting Montenegro and the European Union’s laws, Alen added.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

green wolt scotland floating wind farm

Green Volt, world’s largest floating wind project, obtains planning approval

23 April 2024 - The project has now received all its planning approvals and remains on track to be the first commercial-scale offshore wind farm in Europe


Solar power plants in North Macedonian industrial zones to supply exporters to EU

23 April 2024 - Solar power plants in industrial zones in North Macedonia will enable manufacturers exporting their products to the EU to avoid CBAM

Municipality Chalandri Athens solar energy community citizens

Municipality in Athens to launch solar energy community with citizens

22 April 2024 - The local authority in Chalandri called on citizens to join its energy community by investing EUR 2,000 to EUR 3,500 in a solar power unit

croatia batteries energy storage damir habijan

Croatia to earmark EUR 500 million for batteries

22 April 2024 - The Government of Croatia is preparing EUR 500 million for the installation of batteries for storing renewable energy