Renewables

Construction of Gvozd wind farm expected to start in 2020

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Published

February 7, 2019

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Published:

February 7, 2019

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Montenegro’s state power utility Elektroprivreda Crne Gore (EPCG) is expected to launch the construction of the Gvozd wind farm in 2020, according to Ivan Mrvaljević, head of development and engineering at EPCG.

The Gvozd wind farm is expected to go on stream in 2022, Mrvaljević said at a roundtable recently organized by non-governmental organization Green Home, according to reports.

At the same roundtable, Nikola Vujović, state secretary at the Economy Ministry, said that the Možura wind farm would be put into operation in the coming days. It is planned for the 46 MW Možura wind farm to have an output of 111.8 GWh of electricity in 2019.

Work is under way by a German company on wind resource assessment, which will serve for negotiations on financing for the Gvozd wind farm project, said Mrvaljević.

In 2018, EPCG signed a memorandum of understanding with Austria’s Ivicom Holding concerning the EUR 70 million project to build the 50 MW Gvozd wind farm, planned to produce 140 GWh of electricity annually.

At the time, EPCG said that financing for the wind farm project on the Gvozd-Krnovo location in the municipality of Nikšić would be in the form of loans, for the most part drawn from international finance institutions (IFI), rather than feed-in tariffs.

Ivicom CEO Krešimir Čondić for his part said that he is pleased his company will continue working with EPCG on the same location, recalling that Ivicom was involved in the Krnovo wind farm project.

The 72 MW Krnovo wind farm, built by France’s Akuo Energy and Ivicom, started operating in November 2017. The United Arab Emirates’ (UAE) renewable energy company Masdar has since signed an agreement with Akuo to buy a 49% stake in Krnovo Green Energy, which operates the onshore wind farm.

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