State-owned power utility EPCG continues negotiations with the Turkish owner on the takeover of Zeljezara Niksic steel mill, adding that it sees enormous solar potential in the company.
President of the Board of Directors of EPCG Milutin Djukanovic said that the steel mill has a huge potential for the installation of rooftop solar panels, adding that up to 60 MW in capacity could be installed. He also said that EPCG is considering converting part of the steel mill into a plant for the production of equipment for solar power plants, namely construction parts, adding that the company will seek a partner for such endeavor.
Djukanovic also said that he believes that the Montenegrin state will help EPCG to finance the takeover of Zeljezara Niksic by purchasing EPCG’s own shares.
Earlier this months, the Montenegrin Government has given the green light to EPCG to start negotiations with Turkish Toscelik for the takeover of Zeljezara Niksic steel mill.
Toscelik acquired Zeljezara Niksic in 2012, at the tender for 15.1 million euros. Toscelik suspended production activities at Zeljezara Niksic in March 2021, due to a drop in orders caused by the coronavirus pandemic. Last year, the Turkish company said it is in talks for the sale of the steel mill.