EPCG’s shareholder assembly backs EUR 55.3 million dividend payment
Power utility Elektroprivreda Crne Gore’s (EPCG) shareholder assembly has backed a EUR 55.3 million dividend payment. The dividend will be distributed out of retained earnings, in the gross amount per share of EUR 0.4214. At the 16th regular meeting held in Nikšić, shareholders also adopted financial and consolidated reports for 2017 and the company’s annual report, […]
Montenegro setting up Eco Fund, opening of chapter 27 expected by end-2018
Montenegro has opened 31 out of 35 chapters of EU membership talks so far, while the opening of the most demanding and expensive one, chapter 27, is expected by the end of 2018. Meeting obligations under the environment chapter will require EUR 1.4 billion in investments by 2035, and the Eco Fund is expected to […]
CEDIS to invest EUR 81.6 million in distribution network, tendering expected by end-October
Tendering for the selection of equipment suppliers and contractors for a project worth EUR 81.6 million to revitalize the Montenegrin power distribution network is expected by the end of October, while the start of the works is planned for February next year. The investments will be implemented by the Montenegrin distribution system operator (DSO), Crnogorski elektrodistributivni […]
Nord Pool, EPEX SPOT interested in strategic partnership with Montenegrin power exchange
Nord Pool and EPEX SPOT are interested in getting stakes in the Montenegrin Power Exchange (MEPX), which is starting preparations for a tendering procedure to select a strategic partner, with plans to launch operations in the third quarter of 2019, the Montenegrin government has said on its website. A document on regional energy market integration […]
Litostroj, ABB to modernize HPP Piva
Power utility Elektroprivreda Crne Gore (EPCG) and a consortium of Slovenia’s Litostroj and Italy’s ABB JV have signed a contract on a EUR 10.3 million reconstruction and modernization of the Piva hydropower plant (HPP), the Montenegrin company said. The contract, which will be financed by German development bank KfW with EUR 8.5 million and from […]
Germany’s WPD eyes EUR 100 million wind farm investment, government announces tendering
Vjetroelektrana Budva has submitted a request for opening a tendering procedure for the construction of a wind farm at the Brajići locality in the Budva and Bar municipalities, the Montenegrin government has announced, adding that it authorized the line ministries to prepare tendering documents and issue a public invitation of bids. According to a document […]
8 companies buy documentation for Briska Gora project
Eight companies have purchased tendering documentation so far for leasing land on the Briska Gora location to build a solar plant, Vijesti has been told at Montenegro’s Ministry of Economy. Unnamed ministry officials who spoke to the daily would not reveal which companies bought the documentation given that the tendering procedure is ongoing, with the […]
EPCG swings to net profit of EUR 42.8 million in H1
Power utility Elektroprivreda Crne Gore (EPCG) had a net profit of EUR 42.8 million in the first half of 2018, the company said on its website, adding that its Board of Directors has adopted a decision on the 2017 consolidated results, which show that EPCG Group’s net profit stood at EUR 1.5 million last year. EPCG’s […]
