Developer Wind Europe MNE has initiated environmental permitting for the proposed 92.4 MW Njegovudja wind farm near Zabljak, adding another large project to Montenegro’s rapidly expanding renewable-energy pipeline.
The company has requested a screening decision from the Environmental Protection Agency to determine whether a full environmental impact assessment will be required. Given the project’s scale, mountainous location and associated transmission infrastructure, environmental and spatial-planning requirements are likely to become central development issues.
Njegovudja would comprise 14 turbines rated at 6.6 MW each. The development also includes internal roads and cables, a project substation and a new 110 kV transmission line connecting the wind farm to Montenegro’s transmission network.
Once operational, the turbines would be controlled through a SCADA platform providing remote dispatch, real-time production data, weather monitoring and fault detection. The expected operating life is 25-30 years, after which the site could be repowered or decommissioned and restored.
An indicative capital envelope for a high-altitude Montenegrin wind project of this size is approximately €125-155 million, equivalent to €1.35-1.68 million per MW. The upper part of the range reflects mountain access, winter construction constraints, heavy-component transport, foundation requirements and the cost of the 110 kV connection.
Annual operating expenditure could reach €3.5-5 million. At an estimated net capacity factor of 32-38 per cent, the project could generate approximately 259-308 GWh annually. Gross electricity revenue would be around €18-28 million a year at achieved prices of €70-90/MWh, before balancing, curtailment, grid fees and financing costs.
A base financing case could support an equity return in the region of 8-10 per cent, while an upside case combining stronger wind performance, a bankable power-purchase agreement and controlled connection costs could move towards 11-13 per cent. These are indicative development assumptions rather than disclosed project economics.
The principal financial risk is the connection schedule. A 12-18 month grid delay could reduce equity returns by approximately 1.5-3 percentage points, depending on debt drawdown, turbine-storage costs and whether the project has already committed to fixed delivery dates. Delay can also expose the developer to changes in turbine pricing and construction availability.
The project’s location near Zabljak raises additional questions around landscape impact, bird and bat migration, winter access, tourism and cumulative effects with other wind developments. Strong wind resources alone will not make Njegovudja bankable; the investment case rests on resolving environmental acceptance, transport logistics and firm transmission capacity before the main equipment contracts are committed.
