Renewable energy company CWP Europe plans to install the Montechevo solar power plant with a total capacity of 400 MW in Montenegro.
CWP Europe is developing the solar project in cadastre municipalities Lastva, Čevo and Prentin Do on the territory of the city of Cetinje. It is the first project it is implementing in Montenegro.
The value of the planned investment is around EUR 360 million, while the development and construction of the project are planned in phases, CWP Europe said.
The start of construction is scheduled for 2025. Upon completion and commissioning, which is expected at the end of 2026, Montechevo will be the largest solar power plant in Montenegro, according to the company.
Annual production of Montechevo is estimated at 650 GWh
The expected annual gross production of the power plant is around 650 GWh, which is enough to supply more than 154,000 households with green electricity.
Solar energy produced in the Montechevo power plant will have a great impact on reducing air pollution in the country and significantly contribute to Montenegro in achieving its energy goals when it comes to the share of total electricity from renewable energy sources, CWP Europe said.
The electricity from the solar power plant will lead to an annual reduction of 702,000 tons of CO2 emissions in Montenegro.
The company has 2 GW in projects in the region
CWP Europe said it would be guided by the highest international standards in the implementation of the Montechevo project in order to contribute in the best possible way to the overall development of municipalities as well as renewable energy sources in Montenegro and the region.
CWP is developing projects in South East Europe and Australia. Currently, it is working on renewable energy projects of more than 2 GW in combined capacity in Bulgaria, Romania, Serbia, and Ukraine. Projects in Serbia are planned at 1,180 MW in total.