Partnership announced for 118 MW wind farm development project in Montenegro
Renewable energy investor Alcazar Energy has announced its acquisition of rights to a 118 MW wind farm (Bijela) project in Montenegro.
Alcazar Energy is forming a partnership with the original greenfield developers of the project, Simes Inženjering and Sistem MNE. The project, valued at approximately US$200 million, is a key component of Montenegro's 2040 national development strategy, seen as a substantial economic investment and a significant step in reducing the country's greenhouse gas emissions. Financial closure is anticipated in Q1 2025, with construction set to begin in early 2025.
Country updates
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June 20, 2023
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 Montenegr...
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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...
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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...
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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...
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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...
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