News

EPCG to invest EUR 700 million to build new renewables capacities, upgrade other facilities

facilities

Published

October 29, 2019

Country

Comments

comments icon

0

Share

Published:

October 29, 2019

Country:

Comments:

comments icon

0

Share

State power utility Elektroprivreda Crne Gore (ЕPCG) will invest a total of EUR 700 million to build new renewable energy capacities and upgrade its other power generation facilities to bring them into line with environmental standards, with the aim of reducing dependence on imports due to hydrologic conditions, local media reported following a session of the Montenegrin Chamber of Economy’s energy committee.

Three new renewables facilities will have a total installed capacity of 500 MW

Three new facilities – solar power plant Briska Gora, wind farm Gvozd, and hydropower plant Komarnica – will bring 500 MW of new installed capacity, according to Ivan Mrvaljević of EPCG.

The Gvozd wind farm, a project valued at some EUR 70 million, whose test run is expected in 2022, will have an installed capacity of 150 MW and will be able to supply electricity to about 25,000 households. Gvozd, which will be built in a joint project of EPCG and Austria’s Ivicom Holding, will be located south of the existing Krnovo wind farm.

Solar power plant Briska Gora will generate 360 GWh of electricity a year

The Briska Gora solar power plant, worth EUR 200 million, with a planned annual output of 360 GWh, will also contribute significantly to an increase in power generation from renewable sources, according to Montenegrin media. The construction of the 250 MW solar power plant is expected to begin next year.

According to earlier reports, the construction of hydropower plant Komarnica will cost an estimated EUR 237.9 million. The projected capacity of this hydropower plant is 168 MW, and its expected annual output is 231.8 GWh.

Since Montenegro is under the obligation to implement the EU’s directives on limiting harmful emissions, EPCG also plans to invest over EUR 66 million to upgrade its Pljevlja thermal power plant, while additional costs in environmental fees will be around EUR 30 million, according to Montenegrin media.

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

Serbia drafts just transition action plan public debate

Serbia drafts just transition action plan

30 May 2025 - The Ministry of Mining and Energy has published a draft just transition action plan and launched a public debate

Regional Power Sector Exchange Western Balkans disitribution system operator dso grids ohrid giz

Third Regional Power Sector Exchange in Ohrid: Power grids at core of energy transition

30 May 2025 - The third Regional Power Sector Exchange of the Western Balkans gathered over 80 energy professionals from the Western Balkans

two solar power plants egesa enerji vojvodina

Turkey’s Egesa Enerji to build two solar power plants in Serbia’s Vojvodina province

30 May 2025 - Turkish company Egesa Enerji has launched a project to build two solar power plants in Vojvodina, with a total nominal capacity of 8.6 MW

Green for Growth Fund partnership Swedish International Development Cooperation Agency Sida

Green for Growth Fund launches partnership with Swedish International Development Cooperation Agency

30 May 2025 - GGF and the Swedish International Development Cooperation Agency are expanding green lending in the Western Balkans and the EU's Eastern Neighborhood