Montenegro's EPCG to put Gvozd wind farm into service in Q4 2022 - CEO

Montenegro's majority state-owned power utility Elektroprivreda Crne Gore (EPCG) [BEL:EPCG] plans to put into operation the 50 MW Gvozd wind farm in the fourth quarter of 2022, CEO Igor Noveljic has said.

The planned electricity production of the future wind farm is 150 GWh per year, Noveljic said in an interview published in the latest edition of the corporate magazine of EPCG.

EPCG has already started preparations for the start of works on the project together with its partner, Austria's Ivicom Holding GmbH, Noveljic added.

In September, the shareholders of EPCG approved a 58 million euro ($64.3 million) investment in the construction of the Gvozd wind farm in cooperation with Ivicom, to be financed through loans.

Ivicom and France's Akuo Energy launched in November 2017 the Krnovo wind farm in Montenegro via their local subsidiary Krnovo Green Energy. The project had an estimated cost of 120 million euro, with 48.5 million euro coming from a senior loan extended by the European Bank for Reconstruction and Development (EBRD).

($ = 0.901897 euro)

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