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 […]
Montenegrin Government looking for investor to finance EPCG’s takeover from A2A
The Government of Montenegro intends to buy shares of the Italian company A2A in power utility Elektroprivreda Crne Gore (EPCG) with the support of a financial institution, as well as to hire a legal advisor for assistance in privatization, Montenegrin media reported. Montenegrin Government has a stake of 51% in EPCG while A2A owns 41%. […]
Court unblocks A2A shares in Montenegrin power company EPCG
The High Court in Podgorica has decided to unblock shares of Italian company A2A in Montenegrin power company, Elektroprivreda Crne Gore (EPCG). The court previously blocked the shares of A2A over a proceeding against several former EPCG managers. Montenegrin media reported that the chamber presided over by the president of the Higher Court in Podgorica, […]
First payment to A2A for withdrawal from EPCG by May 2018
The Government of Montenegro intends to pay the first installment to the Italian company A2A for its shares in Montenegrin electric power company, Elektroprivreda Crne Gore (EPCG), before the deadline expires in May 2018. By then, the government will also examine other payment options foreseen by the contract with the Italian company, the Ministry of […]
Italian A2A appeals Montenegrin court’s decision to block its shares in EPCG
The Italian company A2A has appealed court’s decision to block its shares in the Montenegrin electric power company, Elektroprivreda Crne Gore (EPCG), Montenegrin media reported. The High Court in Podgorica, which blocked the shares due to the procedure against several former managers of the company, has confirmed to daily Pobjeda that A2A has appealed the decision. […]