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

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October 29, 2019

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Published:

October 29, 2019

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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.

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