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.
Montenegro: EPCG secures €25.63 million EBRD loan to expand Gvozd wind farm capacity 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 seeks international partner for Komarnica hydropower project Read More »
Montenegro’s state-owned power utility Elektroprivreda Crne Gore plans to include an international partner in the development of the Komarnica hydropower project. The company cited the experiences of Norway, Austria, and France. The plant, with a proposed capacity of 172 MW, is expected to have an annual production of around 213 GWh. Elektroprivreda Crne Gore (EPCG)
Montenegro: EPCG seeks international partner for controversial HPP Komarnica project Read More »
Montenegro’s state-owned power utility, EPCG, is preparing to bring an international partner on board to support the development of the long-delayed Komarnica hydropower plant. Designed to have an installed capacity of 172 megawatts and produce approximately 213 gigawatt-hours of electricity annually, the project is part of EPCG’s broader hydropower expansion strategy. Alongside Komarnica, EPCG is
Montenegro’s state-owned power utility EPCG is bracing for a significant financial shortfall in 2025, according to CEO Ivan Bulatović. To ensure a stable electricity supply for households and businesses, the company is expected to seek financial assistance from commercial banks. Several key challenges are driving the projected losses. The thermal power plant (TPP) Pljevlja, a
Montenegro: EPCG reports €10.2 million Q1 2025 profit amid revenue and cost increases Read More »
Montenegro’s state-owned power company EPCG posted a net profit of 10.2 million euros in the first quarter of 2025, slightly down from 11.4 million euros in the same period last year. The company’s net sales revenues increased to 125.7 million euros during the first three months of 2025, up from 113.2 million euros in Q1
Montenegro: EPCG receives environmental approval for Krupac solar power plant project Read More »
Montenegro’s state-owned power utility, EPCG, has received approval for the environmental impact assessment (EIA) study for the construction of the Krupac solar power plant. The facility will be located on three sites along the shores of Lake Krupac near Nikšić, covering a total area of approximately 118 hectares. The project, estimated at around 28.2 million
Montenegro: EPCG reports €5 million benefit from solar energy projects Read More »
Montenegrin power utility EPCG has announced the results of its Solari 3000+/500+ and 5000+ solar projects, which ran from 1 April 2024 to 31 March 2025. The report reveals that consumers have collectively saved nearly 5 million euros during this period. A total of over 7,000 users have participated in the projects so far, with
