First commercial wind power plant in Montenegro

The European Bank for Reconstruction and Development (EBRD) is supporting Montenegro in the construction of its first commercial wind power plant.

Located at Krnovo, the EBRD is to extend a senior secured loan to Krnovo Green Energy to build and operate the 72 MW plant. Another loan is provided by the German development bank KfW.

The wind farm will represent 8% of the total installed capacity and 6% of total electricity production in Montenegro.

During two years the EBRD has worked with the government to create the regulatory framework for renewables.

With this project EBRD will have committed a total of €493,5 Mio. in 45 projects, generating more than € 960,- Mio. of investment in Montenegro.

Source: renews 09 July 2015

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