EBRD extends EUR82mn financing for 55 MW wind project in Gvozd
The European Bank for Reconstruction and Development (EBRD) has extended a EUR82 million (US$100.09 million) loan for the development and construction of a 55 MW onshore wind farm project in Montenegro.
The loan is provided to Elektroprivreda Crne Gore a.d. Nikšić (EPCG), the national electricity utility, and Green Gvozd LLC, a special-purpose vehicle (SPV) to be fully acquired by EPCG. EPCG will use the financing for the acquisition, construction, and operation of a new 55 MW onshore wind farm near the village of Gvozd in Nikšić municipality.
Once completed, the Gvozd wind farm will generate renewable energy output equivalent to supplying more than 25,000 households per year in Montenegro and is expected to save at least 104,000 tonnes of CO2 emissions per year, equivalent to the annual emissions of approximately 62,000 cars. The Gvozd wind farm is a milestone project for EPCG, being its first major new-generation asset in over 40 years, as well as its first wind farm.
Country updates
-
-
April 05, 2021
Montenegro to investigate Mozura wind project deal
The Government of Montenegro is set to launch an investigation for suspected corruption and diversion of funds in the development of a 46 MW Mozura wind farm project owned by Enemalta, a state-ow...
Read more -
December 22, 2020
Gvozd wind project receives financing preliminary offer from EBRD
In order to finance the project for the construction of Gvozd wind farm, Montenegrin state-owned power utility Elektroprivreda Crne Gore (EPCG) has received a preliminary offer from the European Bank...
Read more -
September 24, 2020
Government of Montenegro signs construction contract for the 70 MW wind project project in Brajici
The government of Montenegro has signed the contract with WPD Windmanager for the construction of a 70 MW wind farm located in the village of Brajici, near Budva. The EUR101.3 million (US$118.87 mill...
Read more -
August 27, 2020
RFEOI launched for technical consultant for energy efficiency study in Western Balkans
The World Bank Group has launched a request for expression of interest (RFEOI) seeking technical consultant to perform Residential Energy Efficiency Market Assessment in six Balkan countries name...
Read more -
January 31, 2020
Montenegro awards power production license for Mozura wind farm operator
The energy regulatory agency of Montenegro has awarded a 10-year energy production license for the operator of the 46 MW Mozura wind project, Mozura Wind Park Podgorica. The regulator...
Read more
