EBRD mulls 47.5 mln euro loan for Krnovo WPP in Montenegro

PODGORICA (Montenegro), December 19 (SeeNews) – The European Bank for Reconstruction and Development said it is considering providing a senior loan of up to 47.5 million euro ($59 million) to finance the construction and operation of the 72 megawatts (MW) Krnovo wind power plant (WPP) in Montenegro.

The borrower will be Krnovo Green Energy, a special purpose vehicle established for the sole purpose of construction and operation of the project, which is expected to be Montenegro’s first utility-scale wind farm, the EBRD said in a statement on Wednesday.

The total project cost is expected to be approximately 139 million euro.

Krnovo is located 28 kilometres northeast of the city of Niksic.

The consortium of France's Akuo and Austria's Ivicom had been awarded a permit to build the Krnovo wind park, Montenegro's economy ministry said earlier.

($=0.8130 euro)

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