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EBRD, KfW finance Krnovo wind park project

Published

June 16, 2015

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Published:

June 16, 2015

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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.

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