Montenegro: Akuo France & Ivicom Austria starts its Krnovo wind power plant construction

18. May 2015. / SEE Energy News

After several delays and changes in SPV partnerships, Mitsubishi left and Akuo joined, wind park Krnovo is starting its construction. EBRD may finance the project.

Montenegro’s Krnovo Green Energy has marked the official start of construction works on the 72 MW Krnovo wind power plant (WPP) with an estimated investment value of 120 million euro ($134.8 million).

The consortium of France’s Akuo and Austria’s Ivicom has been awarded a permit to build the Krnovo wind park.

Krnovo Green Energy is a special purpose vehicle established for the sole purpose of construction and operation of the project, which is expected to be Montenegro’s first utility-scale wind farm.

The actual works will start during month of may. According to the land lease contract, the works should last for 18 months from the moment they begin.

EBRD said earlier it was considering providing a senior loan of up to 47.5 million euro to Krnovo Green Energy to help finance the WPP project. Krnovo is located 28 kilometres northeast of the city of Niksic.

Download as PDF :

Download PDF