In a landmark project for Montenegro’s energy sector, the European Bank for Reconstruction and Development (EBRD) is supporting the first commercial wind power plant in Montenegro, to be located at Krnovoin the western part of the country.

The EBRD is extending a senior secured loan of up to €48,5 million to Krnovo Green Energy d.o.o, the subsidiary of Akuo Energy, the French producer of renewable energy, that will build and operate the 72MW plant. In parallel, KfW IPEX-Bank GmbH, a subsidiary of KfW, is providing a loan of the same amount.

This is the first large-scale investment in Montenegro’s electricity generation capacity since the 1980s. Once constructed and operational the wind farm will represent 6 per cent of total electricity production in Montenegro.

The project is expected to result in CO2 emission reductions of more than 180,000 TCO2 annually.

bbabo.Net