Electricity

EPCG may opt to take on a partner for HPP Komarnica project

partnerstvo

Photo: Dragica Sekulić

Published

June 4, 2020

Country

Comments

0

Share

Published:

June 4, 2020

Country:

Comments:

0

Share

Montenegrin state-owned electricity producer Elektroprivreda Crne Gore (EPCG) has the right to decide whether to build the planned 170 MW hydropower plant (HPP) Komarnica on its own or in cooperation with a partner, according to Economy Minister Dragica Sekulić.

It is only natural that the Komarnica project be carried out by EPCG, but it is up to the company to decide whether it will do it alone or whether it will take on a partner, according to her, local media reported.

EPCG can also choose whether to draw a loan or finance the project with own funds

Under the law, the state has the authority to award the concession for the project directly to EPCG, and the company can choose whether it wants to implement the project on its own as well as whether to take out a loan or finance the works out of its own coffers, according to Sekulić.

The Government of Montenegro has recently issued a proposal of the detailed spatial plan for the area of a multipurpose reservoir on the Komarnica river in the country’s northwest, and the government has opted for a solution that is the least harmful for the environment, not the most profitable one.

The cost of the project will be known once an agreement is ready

Sekulić also said that the cost of the project will not be known until an agreement on HE Komarnica’s construction is ready, adding that there are several steps to be taken until then – including developing a design and conducting a tendering procedure.

The current estimate of the project’s cost is EUR 246.5 million. Fidelity Consulting has recently noted that this amount is by EUR 60 million higher than the previous one, but EPCG has responded by describing the original estimate as obsolete.

According to earlier reports, annual electricity output at HPP Komarnica is projected at 209 GWh.

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

net-loss-eps-q1

Serbia’s power utility EPS posts Q1 net loss of EUR 254 million

30 June 2022 - The state-owned power utility is blaming the poor result on a drop in output, electricity imports, and capped prices for end-consumers

EU agrees fossil fuel car ban as climate package talks are starting

EU agrees fossil fuel car ban as climate package talks are starting

29 June 2022 - The Council of the EU and European Parliament are set for talks on the Fit-for-55 package. Both agree new combustion engines should be banned by 2035.

G7 reverses climate policy support LNG gas nuclear power

G7 reverses climate policy with support for LNG, gas, nuclear power

29 June 2022 - The G7 reaffirmed its commitment to climate goals, but it backed the deployment of gas, particularly LNG, and of nuclear power

Romania renewables statistically attributed Netherlands

Romania’s renewables can statistically be attributed to Netherlands

28 June 2022 - The EU enables countries to pay other member states to formally make up for shortfalls in achieving own green energy targets