Montenegro's Krnovo wind farm output falls in May

PODGORICA (Montenegro), July 4 (SeeNews) – Montenegro's Krnovo wind farm produced 13,311 MWh of electricity in May, down from 15,814 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 28.4 GWh in May from 30.1 GWh in April, 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 ($135.4 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.

($ = 0.886082 euro)

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