- Press Releases
PODGORICA (Montenegro), September 6 (SeeNews) – Montenegro's government has approved a concession agreement with local company PM Hydro for the construction of a 995 kW hydro power plant (HPP), it said on Friday.
The project envisages the construction of a hydro power plant on Vranjestica river in Kolasin municipality, which will produce 3.35 GWh of electricity per year, the Montenegrin government said.
The economy ministry issued a building permit for the construction of the hydro power plant in 2017. The entire capital of PM Hydro is owned by Montenegrin citizen Marinko Radulovic, according to data from Montenegro's business register.
Radulovic is a member of the municipal council of the ruling Democratic Party of Socialists (DPS) in Niksic municipality, according to information published on the party's website.
In May, environmentalists held protests against the construction of a hydro power plant in Bukovica, claiming that the project would cause an irreversible environmental damage. Back then, economy minister Dragica Sekulic said the government does not plan to grant concessions for the construction of small hydropower plants (HPP) as it will focus on the development of wind and solar projects instead.