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Fortum-EPCG consortium to build 250 MW solar power plant in Montenegro

Fortum-EPCG consortium to build 250 MW solar power plant in Montenegro

Consortium between Finnish Fortum and the Montenegrin state-owned utility Elektroprivreda Crne Gore (EPCG) was awarded a tender to build and operate a 250 MW solar power plant. As reported by the Montenegrin government in a statement, Fortum-EPCG offered a lease fee of 0.33 €/m2, while the second best bid offered only 0.05 €/m2. Overall planned investment is estimated at €178 million, with domestic companies’ participation set around €20 million. The consortium also obligated

Underwater cable Montenegro-Italy successfully tested

Underwater cable Montenegro-Italy successfully tested

In 2019, Montenegro and Italy will be linked via underwater cable. Italian based Terna successfully tested the power cable in total length which means that it is fully technically correct and ready for uninterrupted operation and use. However, the contracted capacity of the cable is 1000 MW, while so far, Terna laid only a single cable of 500 MW. Length of the cable equals over 430 km. Montenegro will insist on obtaining 200 MW capacity and revenue from congestion, which is d

Wind farm without incentives planned in Montengro

Wind farm without incentives planned in Montengro

Montenegrin state-owned utility Elektroprivreda Crne Gore (EPCG) and Austrian based Ivicom Holding have signed a memorandum of understanding regarding the 50 MW wind power plant of Gvozd. The project is estimated at approximately €70 million and is intended to operate without requiring feed-in tariffs. Ivicom is already present in Montenegro as it partnered with French Akuo Energy and constructed the 72 MW Krnovo wind farm.. Source: Balkan Green Energy News #Montenegro #wind

A2A on its way out of Montenegro

A2A on its way out of Montenegro

Government of Montenegro agreed to buy approximately 13% of shares of EPCG held by Italian based A2A for a sum of €68.9 million. This transaction will increase the Montenegrin share in EPCG to just over 70%. A2A managed EPCG since 2009 when it bought around 43% of its shares for €430 million. For the past couple of years, EPCG has had stable finances and currently holds €52 million of unallocated earnings. During the last 7 years, the company reportedly invested €180 million.

Montenegro to call a tender for 200 MW solar unit

Škoda Praha's Pljevlja II contract terminated

Škoda Praha's Pljevlja II contract terminated

After several months of delays and problems with closing the financial construction of the Pljevlja 2 project, the Montenegrin Government cancelled the agreement on strategic partnership with Czech based Škoda Praha. Škoda Praha failed to ensure the required 85% of financing through the Czech export bank. After trying to close the financial construction with the help of Bank of China and after selecting General Electric as the unit's EPC provider, Škoda Praha did not manage t

45 MW HPP Brežice started production

45 MW HPP Brežice started production

On October 2nd Slovenian based hydro power plant Brežice marked the start of its production. The unit has an accumulation system. Planned annual production of HPP Brežice is 161 GWh. HPP Brežice is considered a multipurpose project, as besides the production of electricity, it also aims to contribute to water flow management, flood and groundwater protection and the increase of drinking water supply. The construction of the 45 MW HPP started in March 2014 and cost an estimate

CEDIS to invest €78 million in distribution network

CEDIS to invest €78 million in distribution network

Montenegro based distribution system operator Crnogorski elektrodistributivni sistem (CEDIS), announced plans to invest €78 million in the development and rehabilitation of the distribution grid in the next three years. The investment is backed by the European Bank for Reconstruction and Development (EBRD) with a 12-year loan worth €32 million. CEDIS plans to continue implementing smart meters and optimising its operation following the formal separation from the main Monteneg

A2A to exit Montenegro

Italian A2A is ready to part with its share of the Montenegrin main utility company Elektroprivreda Crne Gore (EPCG). A2A currently holds 41.7% of shares, for which it paid €434 million in 2009. The Montenegro government has a 57% stake and the right of first refusal (ROFR) for the A2A package valued at €250 million. Despite claims that the Pljevlja II project is not to blame for this parting, it certainly had a detrimental effect on the relationship between two partners. Sou

Pljevlja II facing legal challenges

Montenegrin NGO Green Home filed a lawsuit against the approval of the Environmental Impact Assessment (EIA) of the proposed Pljevlja II unit. Green Home argued a number of EIA's points, most notably with regard to emission limits. The Pljevlja II project already faced significant headwinds ranging from strong local opposition, environmental and feasibility concerns to difficulties in closing the financial construction of the investment. Source: Energetika #PljevljaII #Monten

Montenegro and A2A discussing EPCG

Montenegro and A2A are discussing terms regarding the operation of the Montenegrin main utility EPCG. Previous Partnership Agreement on running the firm ended in December and was used to set terms regarding the construction of TPP Pljevlja II and state control of the management. In addition, it also discussed arbitration and compensation issues between the two sides. According to SEEBiz, negotiations are close to finish with only the A2A buy-out clause of €250 million remaini

Škoda in effort to ensure TPP Pljevlja II

After failing to provide a financing arrangement for the new Pljevlja 2 unit through the Česká exportní banka (ČEB), Škoda Praha suggested Chinese-based Sinosure (China Export and Credit Insurance Corporation) as an alternative solution. Debt-to-equity ratio is reported to be 85/15. In addition, Škoda selected General Electric as a project partner during the EPC period. As reported by Vijesti, according to the pre-arranged dynamic, after a consensus has been reach between all

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