EPCG denounces Pljevlja 2

As reported by the Montenegrin based EPCG, investment in the second block of thermal power plant Pljevlja is not a priority. After terminating the project agreement with Škoda Praha (after the Czech based company failed to secure financing for the unit) and failing to close the project with Chinese investors, this seems to be a final step towards cancelling the project altogether.

On the other hand, EPCG announced plans to enter an investment cycle with a goal to diversify its generation portfolio. The company’s focus is now directed into wind and solar power. The largest project currently in EPCG’s portfolio is the 250 MW Ulcinj solar power plant. The project is currently in the design phase, after which a construction permit will need to be obtained. EPCG reported holding negotiations with Indian based Sterling&Wilson which could become the engineering, procurement and construction (EPC) contractor. In parallel, EPCG signed a Memorandum of Understanding (MoU) with Austrian based Ivicom Holding regarding the 55 MW wind farm Gvozd in Krnovo.

Source: Poslovni