Montenegro: A2A has agreed to the construction of TPP Pljevlja 2, SEE Energy News
Italian company A2A, co-owner of Electric Power Company of Montenegro, has agreed that EPCG be the investor of the second unit of TPP Pljevlja, provided that it invests 49 percent in construction, and to find partner for the rest of the investment.
This is the result of negotiations between the current A2A, which owns 41.7 percent of EPCG and Montenegrin Government, which owns 57 percent. A2A opposed the participation in building TPP Pljevlja as they have not been able to recover the investment in EPCG from 2009th, in the amount of 430 MEUR.
However, at the insistence of Prime Minister Milo Djukanovic, the Italian partner has changed his mind. The biggest problem remains how to find a partner for most of the investment in new unit of thermal power plant.
On the table were two bids, the Chinese company Hubei Power of 277 MEUR and Skoda Praha of 356 MEUR. These companies offer credit insurance at their national banks. An additional problem is the citizens’ protests due to the construction of the second unit of the thermal power plant and air pollution, as two industrial plants – thermal power plant and coal mine already work in Pljevlja.