Montenegro: Power utility EPCG guarantor for second power unit of TPP Pljevlja

, SEE Energy News

The Government and the Italian company A2A are on the verge of reaching the agreement about the contract on construction of the second power unit of the Thermal Power Plant in Pljevlja, and the final decision on issuing the corporate guarantee of the Electric Power Industry in favour of the financier of the project of constructing the power unit II of TPP ”Pljevlja“ will be made by the Shareholders’ Assembly of  EPCG at the forthcoming session that, most probably, will be postponed for 27th April instead of being held on 21st April.

The contract on construction of the second power unit of the TPP in Pljevlja should be signed by the Government and the Czech company Škoda Praha. The aim of the Government is to try to negotiate a lower price of construction than the offered one which amounts to 338 million euros. The Project will be funded by the Czech export bank which has previously requested that EPCG should guarantee that the loan will be repaid, to which the representatives of A2A opposed until recently. In EPCG, they estimated that this project with financing expenses will not cost more than 450 million euros.

Certain board members of A2A have resigned in the meantime, so the appointment of new board members will also be discussed at the upcoming General Meeting of EPCG.

The Shareholder’s Assembly of EPCG will consider the decision on establishing the limited liability company The Electricity Distribution System of Montenegro Podgorica, as well as the proposed decision on accepting the non-cash capital contribution in this new company, transmits

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