Montenegro: Wind farm Mozura last years’ net profit

, SEE Energy News

Mozura wind farm obtained the status of privileged producer in late 2019, when it started commercial operation. In 2020, revenues of the Mozura wind farm amounted to 12.1 million euros, while its expenditures amounted to 8.5 million euros. The company received 6.1 million euros in subsidies for the production of electricity from renewable energy sources and recorded a net profit in the amount of some 800,000 euros.

Obtaining the status of a privileged producer entitled to such subsidies was enabled by the previous Government, which adopted several acts through which the state and citizens are subsidizing RES electricity production via fees paid through the electricity bills. This applies for small hydropower plants, wind farms and solar power plants.

Wind park Mozura was supposed to be built by consortium of Spanish Fersa Energias Renovables and local company Celebic. It has 46 MW output, with 100 GWh annual electricity generation. Montenegrin Government and Fersa signed the 20-year concession agreement for lease of the land for the purpose of the construction of wind park Mozura in July 2010. However, in the beginning of 2015 the investor decided to withdraw from the project and transferred all its rights and obligations to Enemalta plc. Total value of the investment is 89 million euros, while the Government obliged to buy electricity produced by the wind farm at the price no less than 95.99 euros/MWh in the first 12 years of operation.