News

Chinese firm seen for construction of large HPPs

Published

October 23, 2015

Comments

0

Share

Published:

October 23, 2015

Comments:

0

Share

Economy minister of Montenegro Vladimir Kavarić and vice chairman of Norinco International Corporation Ltd from China Wang Xinging signed a memorandum of understanding as the basis for cooperation in the field of energy, the ministry said. Both sides agreed on the interest in projects of large hydropower plants (HPPs) on the rivers of Morača and Komarnica.

The government published the draft memorandum on cooperation with Norinco on October 8. The document defines preconditions for the construction of the facilities, Vijesti newspaper’s portal reported. However, the draft document, debated on at a cabinet session, says the memorandum can be publicized only under provisions by law or regulation, or in a court or arbitrary process.

The projects would be „implemented in accordance with the existing bilateral agreement on economy and trade… including the new bilateral agreement which may be concluded,“ the draft says. The agreement envisages the development of a project proposal, with the possibility for cooperation to expand to construction of HPPs. Norinco would assist Montenegro financing from China and its banks.

Non-governmental organization Green Home said the memorandum proposal openly violates postulates of transparency and public interest. The government is ignoring independent studies which showed the projects are inadequate and not cost effective, the press release said, portal CdM reported.

Earlier this year, an initiative was launched for a trilateral memorandum of understanding between Ministry of Foreign Affairs of Slovenia, Ministry of Economy of Montenegro and Ministry of Forestry and Water Management of Turkey, for the chain of HPPs on Morača.

Related Articles

Belgrade Energy Forum 2024

Belgrade Energy Forum 2024 – leaders of energy transition to meet in Belgrade on May 13-14

28 February 2024 - If you see the role of your organization or company as important and leading in the energy transition, and you count on the region's market, then BEF 2024 is the place to be

Albania production battery energy storage systems

Project launched in Albania for production of battery energy storage systems

27 February 2024 - Vega Solar agreed with an unnamed Indian company to build the first lithium ion battery factory in Albania

Kosovo power utility KEK replaces acting CEO

Kosovo* power utility KEK replaces acting CEO

27 February 2024 - KEK) appointed Bekir Gërguri as acting chief executive officer and Ramadan Budakova as his deputy, also in an acting capacity

Greece, Bulgaria offer best returns on battery investments in Europe

Greece, Bulgaria offer best returns on battery investments in Europe

27 February 2024 - Investments in battery storage offer the opportunity for profitable energy arbitrage, according to Rystad Energy