Elektroprivreda Crne Gore (EPCG) signed an agreement worth over EUR 1.6 million on the preparation of a preliminary design for HPP Komarnica with a group of suppliers, consisting of the Institute for Water Management Jaroslav Cerni and Energoprojekt Hidroinzenjering from Serbia.
The deadline period for the preparation of a preliminary design with the accompanying documentation is 15 months, and the suppliers are also to prepare a feasibility study and an environmental impact study.
EPCG says that the feasibility study would determine the cost-effectiveness of the construction of Komarnica, whereas the price of the construction and the technical characteristics of the hydro power plant are to be defined more closely following the completion and the adoption of the preliminary design and the feasibility study.
According to the Energy Development Strategy of Montenegro until 2030, two options for the construction of HPP Komarnica were developed previously. According to the one less suitable to the environment, the total costs of the construction of a hydro power plant with installed power of 168 MW and expected annual production of 232 GWh amount to around EUR 183 million.
The second, more likely option, the one more suitable to the environment, envisages the construction of a HPP with 172 MW of installed power and an annual production of 227 GWh. This investment has been evaluated at EUR 178 million and this option excludes the flooding of the Nevidio canyon and the impact on the municipality of Savnik.
The period of the construction of Komarnica is estimated at seven years.
As said, an agreement worth EUR 6.3 million is expected to be signed with the German development bank KfW in February, concerning the reconstruction of HPP Piva. With this agreement, EPCG will officially start its planned five-year investment-development cycle worth EUR 172 million.