Montenegro’s Cabinet discusses construction of small hydro and wind power plants

    Podgorica, Montenegro (17 October 2014) – Within the regular reporting on the implementation of Montenegro’s priority development projects, the Cabinet adopted Thursday the information on the construction of small hydro power plants. Contracts on concession award to exploit 21 water stream, which have been signed, envisage the construction of 41 small hydro power plants with total installed power of about 73 MW and annual production of about 147 GWh.The total investment is valued at EUR 109 million, the meeting concluded.

    The Cabinet also discussed the implementation of the agreement on land lease and construction of the Krnovo wind power plant. The investor has already make an investment, but, given the project requires additional EUR 100 to 120 million, it has begun negotiations on the project finance construction with the European Bank for Reconstruction and Development and the German Development Bank.

    Stressing that the state does not accept any kind of financial obligation, the Government concluded that the signing of the agreement enables the investor to obtain the necessary funds, as the last preconditions for the start of the Krnovo wind power plant’s construction.

    Source: Government of Montenegro