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More than €2m in the Renewable Energy Fund

More than €2m in the Renewable Energy Fund

In the end of 2018, the renewable energy fund totalled €2.02 million and this whole amount of money has been transferred to this year’s fund, according to the Business Report of the Montenegro Electricity Market Operator, COTEE.

The fund has been increased by €129,272 in 2018, writes Dnevne Novine daily.

The Business Report confirms an increase in the share of electricity production from renewable energy sources in the total electricity production. This fact leads to the fulfilment of the national goal concerning renewable sources.

Montenegro for the first time produced enough electricity from renewable sources from 24 May to 2 June this year, and this, according to the government, joined a small number of countries that could claim they managed to produce all the necessary electricity from domestic renewable sources. In that period, when the Thermal Power Plant Pljevlja was out of order, it was produced around 82 million kWh of electricity, while 75 million kWh was spent.

On May 28, wind farm Krnovo produced 28 percent of the country’s total electricity consumption. In addition to the Krnovo wind farm, which started production at the end of 2017, commercial operation of the Mozura wind farm is expected soon.

A public tender for the construction of a wind farm in Brajici has also been announced, and more recently, the EPCG Shareholders Assembly supported the decision to build a Gvozd wind farm worth EUR 58 million. Construction of that wind farm is expected to begin in the spring of 2021 and it will be operative in tha fall of 2022.

An important project for the Montenegrin energy sector, which is entrusted to a consortium of EPCG and the Finnish company “Fortum”, is the construction of a solar power plant in Briska Gora. The first phase of work for the solar power plant, with an installed capacity of 250 megawatts, will begin in 2020, with a construction period of 18 months. According to the latest information, the preparation of technical documentation is in progress.


Source: CDM


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