Montenegro, The corona virus pandemic in the previous two years is the key reason for the delay in the construction of the Gvozd wind farm

, SEE Energy News

“The corona virus pandemic in the previous two years is the key reason for the delay in the construction of the Gvozd wind farm, because its consequences affected the global business environment and the energy sector, and all this was reflected in obtaining the necessary permits, consents and negotiations on the financing of this project”, they told EPCG News, Mina reported.

When the state energy company announced this project, the expected start of construction was last year, and commissioning was 18 months after the start of work.

The project will be financed from a loan from the European Bank for Reconstruction and Development (EBRD), with which the contract should be signed in December of this year, according to EPCG announcement. The loan is worth 82 million euros.

The project is implemented through the project company Green Gvozd, which will be 100 percent owned by EPCG.

The energy company expects a construction permit for the construction of the wind farm in the next two months, while the Montenegrin Electric Transmission System (CGES) has given consent for its connection to the Montenegrin power system.

The Regulatory Agency for Energy and Utilities (REGAGEN) stated in last year’s report on the state of the energy sector, which is in the parliamentary procedure, that EPCG invested less than 60,000 euros in the construction project of this wind farm last year.

The regulator stated that the current dynamics of the activities carried out on this project indicate the need for intensification in order not to jeopardize the closing of the power balance planned by the long-term energy balance for the period from next to 2025, which foresees the commissioning of this wind farm in 2024, Biznis reports.