Montenegro, Government has approved a 30 million euros loan to stateowned power utility EPCG

, SEE Energy News

The Montenegrin Government announced that it has approved a 30 million euros loan to stateowned power utility EPCG from IRF investment and development fund.

The loan will be used o finance the Solari 3000+ and Solari 500+ programs for installation of rooftop solar panels by households and small
enterprises. The loan will be granted at an annual interest rate of 1.6 %, with a repayment period of 96 months, including a grace period of 24 months.

Last week, EPCG extended the deadline for the application for Solari 3000+ and Solari 500+ projects until 28 February 2022. The company
said that the response from the public is higher than expected and that more than 8,000 consumers have already submitted their application.

The Solari 3000+ and Solari 500+ project represents the beginning of the energy transition in Montenegro and one of the most significant
investments in the energy sector in the last 40 years. EPCG added that the goal of the project is to reduce CO2 emissions to a minimum and
preserve the environment through the energy transition.

This project will enable 3,000 households to install solar panels of the roof of residential buildings and become prosumers, as well as 500 small enterprises.