The Montenegrin Government has approved a 50 million euro loan request from the state-owned power utility EPCG. The funds, obtained through a long-term loan from Erste Group Bank, will be used to finance electricity imports throughout 2025. This borrowing is necessary to offset the impact of the March 31 shutdown of the coal-fired Pljevlja thermal […]
Milutin Đukanović, Chairman of the Board at Montenegro’s power utility EPCG, announced that retail electricity prices will remain stable through the end of the year. However, the company plans to review its discount policy, ensuring that households with monthly bills up to 50 euros will continue to receive discounts, protecting low-consumption customers from significant price
Montenegro’s state-owned power utility EPCG has received two bids for the construction, delivery, installation, and commissioning of the new A8 turbine at its Perucica hydropower plant. The first bid was submitted by a consortium consisting of Voith Hydro from Austria, Končar from Croatia, and Elnos from Serbia. The second offer came from Slovenia’s Litostroj Power.
Two significant renewable energy projects are progressing in the village of Korita, located in Bijelo Polje municipality, Montenegro: a €200 million solar power plant and a wind farm with an installed capacity of 72.6 MW. The wind farm, developed by Vjetro park Korita, has formally submitted its environmental impact assessment application to Montenegro’s Environmental Protection
Montenegro: Major renewable energy projects advance in Korita Read More »
Montenegrin state-owned power utility EPCG has obtained government approval to borrow 25.63 million euros from the European Bank for Reconstruction and Development (EBRD) to finance the second phase of the Gvozd wind farm, which will add 21 MW of capacity. The original Gvozd installation currently has 54.6 MW and is expected to generate approximately 150
Montenegro: EPCG secures €25.63 million EBRD loan to expand Gvozd wind farm capacity Read More »
Montenegrin electricity transmission system operator CGES will distribute a gross dividend of 5 million euros to its shareholders, following approval at the company’s annual general meeting. The dividend payout comes after financial statements confirmed a net profit of 24.8 million euros for the previous fiscal year. The remaining 19.8 million euros will be retained as
Montenegro: CGES declares 5 million euro dividend amid continued investment plans Read More »
Concrete pouring has begun for the first of eight foundations that will support the wind turbines of the Gvozd wind farm, located near Nikšić. This ambitious project, with an estimated value of around 82 million euros, stands among the most significant energy developments currently underway in Montenegro. The state-owned power utility EPCG is the investor
Montenegrin fuel retailer Jugopetrol has announced it will distribute a gross dividend of €1.29 per share for this year, maintaining the same payout as the previous year. The decision was made despite the company choosing to retain its entire 2024 net profit of €7.14 million. Instead of using current-year earnings, Jugopetrol will fund the €6
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Montenegro’s electricity distribution system operator, CEDIS, has unveiled an ambitious investment program aimed at modernizing the country’s electricity distribution infrastructure. The initiative, running through 2029, reflects CEDIS’s commitment to improving the reliability, efficiency, and sustainability of power delivery across the nation. Recognizing the need for enhanced service quality, CEDIS has set a strategic goal to
By the end of this year, the Gvozd wind farm, with a capacity of 55 MW, is set to start trial operations. The €82 million investment, supported by KfW Bank, marks a significant milestone in Montenegro’s renewable energy development. Construction of Gvozd 2, a smaller 21–22 MW wind facility, is expected to commence in early
Montenegro advances renewable energy transition with large-scale projects Read More »
