Montenegro awards land concession for solar energy project of Fortum, EPCG

Source: EPCG

PODGORICA (Montenegro), December 28 (SeeNews) - Montenegro's government said it approved a 30-year concession of two land plots in Ulcinj municipality for the construction of a photovoltaic (PV) plant by a consortium of Finland's Fortum and Montenegrin power utility EPCG [MNG:EPCG].

The plots of land of 2.93 million square metres and 3.69 million square metres, respectively, are located in the village of Briska Gora, the government said in a statement on Thursday.

The consortium will pay an annual concession fee of 0.33 euro ($0.38) per square metre.

In October, Montenegro's economy ministry said the consortium placed the best bid in a tender for the construction and operation of a PV plant with installed capacity of more than 200 MW in the municipality of Ulcinj. The consortium offered a 178 million euro investment and the best conditions in terms of number of newly created jobs, technical capacity, financial terms and participation of domestic companies, the economy ministry said.

The selected bidder will have to install at least 50 MW of PV capacity within a period of 18 months after the signing of the agreement and to increase capacity to more than 200 MW in the following 36 months.

($ = 0.87344 euro)

More stories to explore
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription