Concrete pouring has begun for the first of eight foundations that will support the wind turbines of the Gvozd wind farm, located near Nikšić. This ambitious project, with an estimated value of around 82 million euros, stands among the most significant energy developments currently underway in Montenegro. The state-owned power utility EPCG is the investor […]
Montenegro: Jugopetrol to pay €1.29 dividend per share from retained profits Read More »
Montenegrin fuel retailer Jugopetrol has announced it will distribute a gross dividend of €1.29 per share for this year, maintaining the same payout as the previous year. The decision was made despite the company choosing to retain its entire 2024 net profit of €7.14 million. Instead of using current-year earnings, Jugopetrol will fund the €6
Montenegro’s electricity distribution system operator, CEDIS, has unveiled an ambitious investment program aimed at modernizing the country’s electricity distribution infrastructure. The initiative, running through 2029, reflects CEDIS’s commitment to improving the reliability, efficiency, and sustainability of power delivery across the nation. Recognizing the need for enhanced service quality, CEDIS has set a strategic goal to
Montenegro advances renewable energy transition with large-scale projects Read More »
By the end of this year, the Gvozd wind farm, with a capacity of 55 MW, is set to start trial operations. The €82 million investment, supported by KfW Bank, marks a significant milestone in Montenegro’s renewable energy development. Construction of Gvozd 2, a smaller 21–22 MW wind facility, is expected to commence in early
Montenegro plans 50 MW Brijestovo solar power plant in Danilovgrad Read More »
Montenegro is preparing to construct a new solar power plant in Danilovgrad municipality. The planned Brijestovo solar facility will have a total installed capacity of 50 MW. The solar panels will be spread across an area of about 45.45 hectares in the settlements of Slap and Brijestovo. The site comprises several cadastral parcels, including a
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 commissions Ubli 1 solar power plant to boost sustainable energy transition Read More »
Montenegro has officially put into operation its largest ground-based solar power plant, Ubli 1, located in the settlement of Ubli. With an investment of nearly 5 million euros, the plant is expected to produce about 8 GWh of clean electricity each year. It is projected to cut carbon dioxide emissions by more than 5,500 tons
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 attracts global interest in renewable energy projects and grid modernization Read More »
Investors from the United Arab Emirates, France, and the United States have expressed strong interest in Montenegro’s energy sector, particularly in solar and wind power, energy storage and modernizing the power grid, Energy Minister Admir Šahmanović announced. He noted that these initiatives represent investments worth hundreds of millions of euros and stressed the urgency of
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
