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.