Montenegro's sole wind farm Krnovo output declines in May

PODGORICA (Montenegro), July 18 (SeeNews) – Montenegro's only wind farm, in Krnovo, produced 7,864 MWh of electricity in May, down 32.1% on the month, the country's electricity market operator COTEE said.

The 72 MW Krnovo wind farm had the largest contribution to the country's renewable energy output produced under incentive schemes, which rose to 21,124 MWh in May from 8,198 MWh in the like period of 2017, according to data posted on the website of COTEE.

In the first five months of 2018, the Krnovo wind farm produced 70,298 MWh of electricity.

TheKrnovowind farm was launched by France's Akuo Energy and Austria's Ivicom via their Montenegrin subsidiary Krnovo Green Energy in November. The project had an estimated cost of 120 million euro ($139.4 million), with 48.5 million euro coming from a senior loan extended by the European Bank for Reconstruction and Development (EBRD).

Earlier this year, 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 in January.

($ = 0.86073 euro)

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