Montenegro's Krnovo wind farm output declines in August

PODGORICA (Montenegro), October 2 (SeeNews) – Montenegro's Krnovo wind farm produced 4,462 MWh of electricity in August, down from 11,281 MWh in the previous month, the country's power market operator COTEE said.

The 72 MW Krnovo wind farm had the largest contribution to Montenegro's total renewable energy output generated under incentive schemes, which fell to 5.7 GWh in August from 14.4 GWh in July, according to data posted on the website of COTEE.

The Krnovo wind farm was launched by France's Akuo Energy and Austria's Ivicom via their Montenegrin subsidiary Krnovo Green Energy in November 2017. The project had an estimated cost of 120 million euro ($131 million), with 48.5 million euro coming from a senior loan extended by the European Bank for Reconstruction and Development (EBRD).

In January 2018, Akuo Energy said it signed an agreement to sell a 49% stake in Krnovo Green Energy to Abu Dhabi-based Masdar.

Montenegro is a renewable energy leader in Europe, with more than 40% of its domestic electricity consumption coming from clean energy sources, Akuo Energy said back then.

($ = 0.916341 euro)

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