Electricity

Construction on 250 MW Briska Gora solar power plant to begin in 2020

Pleshanovskaya solar park in Russia (Photo: Fortum)

Published

June 6, 2019

Country

Comments

0

Share

Published:

June 6, 2019

Country:

Comments:

0

Share

The first phase of works on a solar power plant with an installed capacity of 250 MW on the Briska Gora locality near Ulcinj, Montenegro will begin in 2020 and last 18 months, state power utility Elektroprivreda Crne Gore (EPCG) CEO Igor Noveljić has said.

In a statement to Vijesti, Noveljić said that he expects the solar park’s electricity output could start in late 2021. The establishment of a Montenegro-based special purpose vehicle (SPV), which will be in charge of the project worth over EUR 200 million, is in a final phase, he added.

The SPV will be co-owned by the consortium that placed a winning bid to build the solar power plant: Finland’s Fortum and EPCG will control 49% each, with Sterling & Wilson to hold a 2% stake. The solar park is planned to produce around 450 GWh of electricity annually following the second phase of the project.

The project is worth more than EUR 200 million

Around EUR 45 million of the total project value refers to the first phase, including the procurement of solar panels and the overall design, procurement, and installation of equipment and works envisaged under the agreement, Noveljić said. The value of the investment in the power transmission system, including the construction of the Bar 2 substation, is estimated at some EUR 30 million.

The Bugulchanskaya solar park in Russia (Photo: Fortum)

“EPCG, the state, the local government, domestic companies, and consumers will see multiple benefits from the project. In the first 25 years of operation, the investor will pay over EUR 50 million in land lease fees alone to the state budget, not counting all other envisaged fees, taxes, and expenses, of which a significant portion will flow to the municipal coffers,” said Noveljić.

Following both phases of the project, a total of 226 people will be employed, while up to 1,000 workers are expected to be hired during construction, with local firms to be contracted for around EUR 20 million worth of works.

The agreement on land lease and the construction of the 250-MW-plus solar power plant was signed by the state and the consortium comprising EPCG, Fortum, and energy performance contracting (EPC) service provider Sterling & Wilson in late 2018.

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

Mitsotakis In face climate devastation new Greece emerging

Mitsotakis: In face of climate devastation, new Greece is emerging

04 December 2023 - Highlighting this year's catastrophic wildfires and floods, PM Kyriakos Mitsotakis said at COP28 that a new Greece is emerging nevertheless

federation bih electrcity prices 2024 cap

Electricity price growth for businesses in FBiH capped at 20% for 2024 – prime minister

01 December 2023 - The Government of the Federation of Bosnia and Herzegovina has declared a state of power supply emergency for 2024

slovenia fee municipalities wind farms

Municipalities in Slovenia to get EUR 200,000 per MW of installed wind farm capacity

01 December 2023 - Incentives are another attempt to speed up wind farm projects in Slovenia, which hosts only three wind turbines

Sustainability risk management key Croatia green transition

HROTE’s Budimir: Sustainability, risk management are key for Croatia’s green transition

01 December 2023 - Ne CEO of Croatia's regulatory body HROTE Darjan Budimir says sustainable business models and quality in risk management are key for a successful green transition