Montenegro’s largest retail chain, Voli, will install solar power plants at its outlets and logistics center, in a EUR 4.5 million investment.
Voli has already invited bids from contractors for a 2 MW solar power plant, and its plan is to install solar panels with a total capacity of 4 MW.
The EUR 4.5 million investment will be financed with a loan from the European Bank for Reconstruction and Development (EBRD), of EUR 4 million, and with the Montenegrin company’s own funds, in the amount of EUR 500,000.
The retailer has already issued a public call for a 2 MW solar power plant
The EBRD has said the loan was approved for the purchase and installation of solar panels in all outlets and the logistics center.
The company is installing rooftop solar systems in order to partially substitute the electricity it consumes. Photovoltaic panels will be deployed in 11 different locations, directly supplying renewable energy to Voli’s facilities, according the EBRD.
Part of the funds will be used to finance electric charging stations, which will support the transition to low-carbon transportation, the bank added.
The solar panels will cut the company’s operational costs by reducing its electricity purchases, while also providing a hedge against volatile and rising energy costs, the EBRD noted.
Voli has issued the first public call for the installation of a solar power plant of 2 MW on the roof of its logistics and distribution center near the Montenegrin capital Podgorica. The company is looking to conclude a turnkey agreement for equipment, installation, and commissioning.