News

EBRD, KfW finance Krnovo wind park project

Published

June 16, 2015

Comments

comments icon

0

Share

Published:

June 16, 2015

Comments:

comments icon

0

Share

Julio Moreno, head of the European Bank for Reconstruction and Development’s country office, announced an investment of EUR 48.5 million in Krnovo wind farm in an interview for Portal Analitika. The project worth a total EUR 130 million will be supported in cooperation with KfW Development Bank of Germany, he added. „It will be the biggest private energy producer, and the wind power plant will cover 7–8% of consumption in Montenegro. We will also finance the construction of a mini hydro power plant on Bistrica river” in Bijelo Polje, Moreno said. He denied the possibility for EBRD to finance the construction of thermal power plant Pljevlja’s second block, explaining that the bank’s energy policy does not allow it. However, there are talks with CGES (Montenegrin Electrical Transmission System) about upgrading its network.

Construction work on the 72 MW power plant has been launched in May. Serbian newspaper Večernje novosti reported on June 16 about the permit for a EUR 120 million wind park project in Krnovo near Nikšić. The construction licence was issued by the Ministry of Sustainable Development and Tourism of Montenegro to Krnovo Green Energy from Podgorica, to build the facility on 1,500 meters above sea level, the article said. The document includes transformers in Brezni and Krnovo, transmission lines, wind turbines system and maintenance building. The contract states that in the first 12 years of operation, the guaranteed purchase price can’t be under EUR 95.99 per MWh. Planned generation is about 160 GWh, the newspaper’s portal said.

Related Articles

IRENA La Camera renewables must grow higher speed scale

IRENA’s La Camera: Renewables must grow at higher speed, scale

12 July 2024 - IRENA's Director-General Francesco La Camera warned of ongoing patterns of concentration in geography in renewables deployment as well as against complacency

Constitutional Court of Serbia rules in favor of Rio Tinto lithium project

Constitutional Court of Serbia rules in favor of Rio Tinto’s lithium project

11 July 2024 - The Constitutional Court of Serbia declared unconstitutional a decree that annulled the local spatial plan for Rio Tinto's lithium project

green steel electric vehicles study transport environment

Switching to green steel would add just EUR 8 per electric vehicle by 2040

11 July 2024 - Switching to 40% green steel would add just EUR 57 to the sticker price of an electric vehicle in 2030, according to an analysis by T&E

Protest outside Constitutional Court of Serbia Rio Tinto's lithium project Jadar

Protest outside Constitutional Court of Serbia against Rio Tinto’s lithium project Jadar

11 July 2024 - Local group Ne damo Jadar and the SEOS assocoation held a protest rally in front of the Constitutional Court of Serbia against Rio Tinto's lithium project