Photo: fietzfotos from Pixabay
Montenegro’s state-owned power utility Elektroprivreda Crne Gore (EPCG) plans to take out a EUR 25.6 million loan from the European Bank for Reconstruction and Development (EBRD) to finance the second phase of the Gvozd wind farm project, with an installed capacity of 21 MW. The first phase of wind farm Gvozd, which is under construction, will have a capacity of 54.6 MW.
Announcing its request for government consent, EPCG stated that the capacity increase through the second phase of Gvozd would improve the security of electricity supply, increase the share of renewable energy in the country’s energy mix, and help Montenegro meet its international climate policy commitments.
EPCG previously announced that it expected the start of construction of the Gvozd 2 wind farm in early 2026.
The new document also states that EPCG has submitted a viability assessment of the Gvozd 1 and Gvozd 2 projects, prepared by German consultancy Fichtner GmbH & Co. KG for the purpose of securing financing from the EBRD.
The first phase of wind farm Gvozd will cost EUR 82 million
The first phase of the Gvozd wind farm, with eight turbines, is financed by an EUR 82 million loan from the EBRD. The groundbreaking ceremony was held in November 2024, and EPCG expects the power plant to enter trial operation by the end of this year. Its planned annual electricity output is 150 GWh.
A contract for the design, procurement, supply, and installation of equipment, as well as the commissioning and long-term maintenance of the future wind power plant, was signed with German company Nordex. EPCG said at the time that wind farm Gvozd would be its first large-scale power generation facility built in more than 40 years.
SCADA and ADMS will be introduced through a EUR 35 million project
In the announcement, EPCG also says it signed an agreement with the EBRD in January on financing a project to introduce the SCADA and ADMS systems into Montenegro’s power system. The implementation of SCADA (supervisory control and data acquisition) and ADMS (advanced distribution management system) is a key step towards modernizing the electricity distribution network, the document states.
SCADA enables remote control, monitoring, and automation of electricity distribution, while ADMS supports the integration of renewable energy sources. Together, these systems significantly improve the reliability, efficiency, and security of the power system, EPCG explains.
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