EPCG’s shareholder assembly backs EUR 55.3 million dividend payment
Power utility Elektroprivreda Crne Gore’s (EPCG) shareholder assembly has backed a EUR 55.3 million dividend payment. The dividend will be distributed out of retained earnings, in the gross amount per share of EUR 0.4214. At the 16th regular meeting held in Nikšić, shareholders also adopted financial and consolidated reports for 2017 and the company’s annual report, […]
Litostroj, ABB to modernize HPP Piva
Power utility Elektroprivreda Crne Gore (EPCG) and a consortium of Slovenia’s Litostroj and Italy’s ABB JV have signed a contract on a EUR 10.3 million reconstruction and modernization of the Piva hydropower plant (HPP), the Montenegrin company said. The contract, which will be financed by German development bank KfW with EUR 8.5 million and from […]
EPCG swings to net profit of EUR 42.8 million in H1
Power utility Elektroprivreda Crne Gore (EPCG) had a net profit of EUR 42.8 million in the first half of 2018, the company said on its website, adding that its Board of Directors has adopted a decision on the 2017 consolidated results, which show that EPCG Group’s net profit stood at EUR 1.5 million last year. EPCG’s […]
Montenegro pays EUR 68.9 million to raise stake in power utility EPCG
The Montenegrin government has paid EUR 68.9 million to Italy’s A2A to increase its holding in power utility Elektroprivreda Crne Gore (EPCG) from 57.01% to 70.16%. With this move, Montenegro returned its ownership in the company to the level before partial privatization and recapitalization carried out in 2009. The number of shares acquired to boost […]
EPCG to invest EUR 67 million in hydropower, analysis for wind farm underway
Power utility Elektroprivreda Crne Gore (EPCG) plans to invest EUR 170 million in the next five years, out of which EUR 40 million in the revitalization of two hydropower plants (HPPs), Piva and Perućica, and EUR 27 million in diverting a part of the Zeta river into the Perućica hydropower system. Around EUR 60 million […]
Montenegrin Government secures funds to buy A2A shares in EPCG
The Montenegrin Government adopted a budget rebalance which foresees EUR 70 million for the purchase of the Italian company A2A’s shares in power utility Elektroprivreda Crne Gore (EPCG). In July last year, the Italian company informed the Government of Montenegro about activating the put option, which officially launched the process of the company’s withdrawal from […]
EPCG launches tendering to produce design plan for TPP Pljevlja ecological overhaul
Power utility Elektroprivreda Crne Gore (EPCG) has issued a public invitation of tenders to produce a preliminary design plan for ecological reconstruction of coal-fired power plant Pljevlja. The deadline for submission is February 1, and the estimated value of the deal is EUR 900,000. The best bidder will have seven months to do the job. […]
Talks on new Montenegrin coal-fired unit fail, Government to implement ecological overhaul of TPP Pljevlja
Montenegrin Government decided to start the ecological reconstruction of the coal-fired power plant Pljevlja. The Unit I of the thermal power plant (TPP) Pljevlja, operated by public power utility Elektroprivreda Crne Gore (EPCG), will be ecologically reconstructed by 2021. The announcement is part of the Government’s decision to terminate the cooperation on Project of Construction […]