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Investment Projects

Hydro

CONSTRUCTION OF KRUŠEVO HPP

Location: Pljevlja, Piva River

Company: Elektroprivreda

Crne Gore AD Niksic

Capacity: 82 MW

Year: 2027-2030

Estimated investment: EUR 160 million

Type: hydropower plant (HPP)

Status of the project: announced

Kruševo HPP is a run-of-river project. The hydro reservoir capacity is planned to be 18 million cubic meters. The gross head and net head of the project will be 57 m and 56 m respectively. With an installed capacity of 82 MW, the HPP Kruševo project is expected to generate approximately 170 GWh annually. HPP Kruševo is considered to be the ideal upstream hydropower solution, completely contained within Montenegro’s borders. Montenegro established a strategic partnership with French state-owned energy company EDF.

SINJAJEVINA WIND POWER PROJECT

Location: Sinjajevina area

Company: N1, Sistem-MNE and Permonte

Capacity: 112.2MW

Year: the project construction is likely to commence in 2025 and is expected to enter into commercial operation in 2026

Estimated investment: EUR 360 million

Type: wind power plant (WPP)

Status of the project: permitting

Montenegro has signed its third land lease for wind power projects. The Ministry of Spatial Planning, Urbanism and State Property got a 30-year contract for the Sinjajevina area of 203 hectares. The wind power project consists of 17 turbines, each with a 6.6-MW nameplate capacity.

Wind

MODERNISATION OF PERUĆICA HPP

Company: Elektroprivreda Crne Gore AD Niksic

Capacity: installation of an eighth unit, with a capacity of 58.5 MW that will raise the overall capacity of Perućica HPP to 365.5 MW

Year: works on the reconstruction and modernisation of P erućica HPP are divided into 18 lots and are planned to be performed before 2027 Estimated investment: EUR 30 million

Type: hydropower plant (HPP)

Status of the project: n/a

As Montenegro’s oldest and most substantial hydroelectric facility, it currently supplies approximately 25% of the nation’s electricity demand. Following last year’s contract with Voith Hydro and subsequent Unit 6 modernisation, the project now advances to refurbish the three remaining power units and supporting systems. As part of the eighth turbine installation project, EPCG plans to build the 10.4-million-euro Krupac-Slano hydrotechnical tunnel.

CONSTRUCTION OF MONTECHEVO SOLAR PV PARK

Location: Cevo, the municipality of Cetinje

Company: Sun Horizon d.o.o. Podgorica (CWP Europe)

Capacity: 400 MW

Year: сonstruction will begin in 2026; commissioning is expected in the end of 2027

Estimated investment: EUR 360 million

Type: solar power plant (SPP) Status of the project: in action

The 600-hectare Montechevo Solar PV Park will deliver 650,000 MWh of clean electricity annually — enough to power 154,000 homes while eliminating 306,150 tonnes of CO₂ emissions each year.

Solar

CETINJE SOLAR PV PARK

Location: Cetinje

Company: RES Montenegro Group

Capacity: up to 506 MW

Year: the project construction is likely to commence in 2025 and is expected to enter into commercial operation in 2027

Estimated investment: n/a

Type: solar power plant (SPP)

Status of the project: announced

It is the biggest photovoltaic facility in Montenegro. Cetinje Solar PV Park is a groundmounted solar project which is planned over 130 hectares. The project is expected to generate 213.965 MWh of electricity.

CONSTRUCTION OF BIJELA WIND FARM

Location: Selo Bijela (Šavnik)

Company: Alcazar Energy

Capacity: 118.8 MW

Year: the project construction is likely to commence in 2025 and is expected to enter into commercial operation in 2027

Estimated investment: EUR 183.4 million

Type: wind power plant (WPP)

Status of the project: permitting

Bijela is set to become Montenegro’s biggest wind park. The project is expected to generate 332,685 MWh electricity and supply enough clean energy to power 20,700 households. The project is expected to offset 260,000 t of carbon dioxide emissions (CO2) a year. The original developers – Simes inženjering and Sistem MNE – will stay on to support the company based in Luxembourg in the development of the project, according to law firm Karanović and Partners, which advised the two firms. KPMG was the financial advisor.

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