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 […]
EPCG inks wind farm MoU with Austria’s Ivicom, feed-in tariffs not planned
Montenegro’s power utility Elektroprivreda Crne Gore (EPCG) and Austria-based Ivicom Holding have signed a memorandum of understanding (MoU) concerning the implementation of a project to build the Gvozd wind farm with a planned capacity of 50 MW, under an investment estimated at around EUR 70 million, EPCG has said in a press release. Financing for […]
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 approves EUR 9 million investments in HPPs
The Board of Directors of power utility Elektroprivreda Crne Gore (EPCG) approved the overhaul of unit 2 of hydroelectric power plant (HPP) Piva and the revitalization of the HPP Perućica. These two projects are worth a total of EUR 9 million while the entire investments in the two HPPs are expected to reach EUR 40 […]
Montenegro accelerates takeover of A2A shares in EPCG
The Government of Montenegro intends to increase the ownership in public power utility Elektroprivreda Crne Gore (EPCG) in May from 57,01 to 70,16%, instead of initially planned 63%. This is envisaged by the Proposal of the Contract on the execution of put option, which the Montenegrin Government adopted and submitted it to the National Assembly, […]
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 […]
Steag Energy to prepare design for eco-reconstruction of TPP Pljevlja
Preliminary design for the environmental reconstruction of the Pljevlja Thermal Power Plant in Montenegro is entrusted to Essen-based industrial group Steag Energy Services GmbH. The German company is specialized in the field of energy, both conventional and nuclear, as well as renewable sources. Montenegro’s power utility Elektroprivreda Crne Gore (EPCG) announced it picked an offer […]