Electricity

EUR 8 million in incentives paid to Montenegrin renewables producers in January-July

producers

Photo: Pixabay

Published

August 28, 2019

Country

Comments

0

Share

Published:

August 28, 2019

Country:

Comments:

0

Share

Producers of electricity from renewable energy sources in Montenegro received a total of EUR 8.08 million in state incentives in the first seven months of 2019, an increase of 3% compared with the same period last year, according to data from the Montenegrin Electricity Market Operator (COTEE), RTCG has reported.

Krnovo Green Energy’s wind farm Krnovo accounted for the bulk of the incentives for renewable energy producers in January-July, receiving EUR 5.88 million, up 33% against a year earlier, according to RTCG.

In less than two years of Krnovo’s operations, the company received a total of EUR 17.2 million in subsidies. Wind farm Krnovo, with an installed capacity of 72 MW and projected annual electricity output of between 200 GWh and 230 GWh, was put in operation in November 2017, RTCG recalled.

The Krnovo project was developed by Austrian firm Ivicom Consulting and France’s Akuo Energy, but Abu Dhabi-based Masdar bought a 49% stake in the wind farm in early 2018, according to earlier reports. The construction on the wind farm began in May 2016, and the investors obtained a 20-year lease on the land, with the possibility of extension for another five years, RTCG recalled.

EUR 2.2 million in incentives went to small hydropower plants

Operators of small hydropower plants (SHPPs) in Montenegro received a total of EUR 2.2 million in renewables incentives in the first seven months of this year, with slightly over EUR 902,000 going to Berane-based Hidroenergija Montenegro, whose six SHPPs enjoy the privileged producer status.

The six SHPPs operated by Hidroenergija Montenegro are Jezerštica, Bistrica, Orah, Rmuš, Spaljevići 1, and Šekular, according to the report.

Since the renewables incentives scheme was introduced in Montenegro on May 1, 2014, privileged producers have received a total of EUR 28.85 million in subsidies, Pobjeda was told at COTEE.

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

NIS will produce green and blue hydrogen at refinery in Banat region

NIS to produce green, blue hydrogen near its refinery in northeast Serbia

23 March 2023 - NIS has extended the public call for the design and technical documentation development for a hydrogen production plant

Balkans-lag-2022-global-renewables-growth-solar-power-picks-up-pace

Balkans mostly lag behind 2022 global renewables growth but solar power picks up pace

22 March 2023 - The world added a record 295 GW of renewable electricity capacity last year, increasing the stock by 9.6%, IRENA said

Fintel selects Windey preferred supplier giant wind park Serbia

Fintel selects Windey as preferred supplier for giant wind park in Serbia

21 March 2023 - Italy-based Fintel intends to purchase wind turbines from Zhejiang Windey for its 854 MW Maestrale Ring project in north Serbia

Cyprus power grid can t handle more renewables without upgrades storage

Cyprus power grid can’t handle more renewables without upgrades, storage

21 March 2023 - Without improvements, grid operator TSOC will be disconnecting renewable electricity units more often as the share of green energy grows