Electricity

EPCG signs EUR 29.4 million deal to overhaul three units at HPP Perućica

EPCG HPP perucica modernization agreement units

Photo: EPCG

Published

December 15, 2022

Country

Comments

comments icon

0

Share

Published:

December 15, 2022

Country:

Comments:

comments icon

0

Share

Montenegrin state power utility Elektroprivreda Crne Gore (EPCG) and German hydropower plant equipment supplier Voith Hydro have signed an agreement on an overhaul of three generators at HPP Perućica, the second phase of a project to modernize EPCG’s oldest power plant. The aim of the work on units A5, A6, and A7 is to extend their operating life and ensure high operational efficiency, improve environmental protection, reduce breakdown risk, and cut the costs of operation and maintenance.

The second phase of the HPP Perućica overhaul, worth EUR 29.4 million, is financed by the German development bank KfW. EPCG CEO Nikola Rovčanin said a new loan of up to EUR 30 million is expected to be signed in 2023 to finance the installation of an eighth unit, with a capacity of 58.5 MW.

An agreement with KfW to finance the installation of an eighth unit is expected in 2023

Željko Uljarević, head of KfW’s office in Montenegro, confirmed that the agreement for generator A8 at HPP Perućica is expected to be signed next year, adding that the loan will increase the value of KfW’s projects with EPCG to over EUR 100 million.

The modernization will make HPP Perućica the “youngest” power plant operated by EPCG

HPP Perućica is EPCG’s oldest power plant, but the reconstruction and modernization will make it the “youngest” one, according to Milutin Đukanović, chairman of EPCG’s board of directors. Works on the reconstruction and modernization of HPP Perućica are divided into 18 lots and are planned to be performed between 2023 and 2027.

EPCG is working on increasing the share of renewables in its electricity production

Rovčanin noted that EPCG has launched a new investment cycle, which will enable the company to diversify electricity generation and continuously increase the share of renewable energy sources.

Last December, EPCG initiated the procedure to install two solar power plants at dams at HPP Perućica. The solar power plants will have a total capacity of 3.7 MW.

Earlier this month, EPCG reached an agreement with Turkey’s Tosçelik to buy steelworks Željezara Nikšić, where it intends to set up a firm that will operate in the solar energy sector.

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

Turkish geothermal power plant operator drill for geothermal lithium

Turkish renewables firm to drill for geothermal lithium

26 July 2025 - Margün Energy intends to search for lithium in geothermal water in western Turkey, where it took over a 12 MW geothermal power plant

eu smart meters acer list slovenia croatia

Slovenia tops EU list for most smart power meters, Croatia among laggards

25 July 2025 - At the top of the list of European Union member states with the highest number of smart meters are the Scandinavian countries and Italy

serbia wind farm plandiste nis met dubravka djedovic

Government of Serbia interested in taking over Plandište wind project

25 July 2025 - Plandište is one of the projects that obtained feed-in tariffs under the first quota of 500 MW for wind power plants in Serbia

Project 81 MW solar park on coal mine in Montenegro

Project underway for 81 MW solar park on coal mine in Montenegro

24 July 2025 - The Government of Montenegro gave a provisional green light for a solar power plant of 81.1 MW in peak capacity on coal land in Pljevlja