Elektroprivreda Crne Gore (EPCG) and Ivicom Holding, headquartered in Austria, signed a memorandum of understanding on the realization of the project of the construction of the Gvozd wind farm in the municipality of Niksic, EPCG reminded and noted that the investment value of the wind farm with the planned power of 50 MW had been estimated at around EUR 70 million.
According to the press release, the financing of the project of a wind farm on the Gvozd-Krnovo location would take the form of a loan, which would for the most part be provided by international financial institutions, without the implementation of feed-in tariffs.
The director executive of Ivicom, Kresimir Condic, stated that he was glad that EPCG would continue working in the same location, as his company was involved in the preparation of the Krnovo wind farm project.
The Krnovo wind farm, with installed power of 72 MW, built by the French company Akuo Energy and Ivicom, started operating in November 2017. In the meantime, the UAE-based company Masdar signed an agreement with Akuo on the purchase of 49% of the wind farm operator, Krnovo Green Energy.