Representatives of the Electric Power Company of Montenegro (EPCG) and the European Bank for Reconstruction and Development (EBRD) discussed the possibilities of financing new projects within the intensive investment cycle of the Montenegrin company, especially in the field of renewable energy sources and increasing production capacities.
EPCG General Director, Zdravko Dragaš, spoke with the EBRD Head for Montenegro, Ekaterina Solovova, about new models of cooperation and possibilities of supporting EPCG’s development projects, within the company’s intensive investment cycle.
“The focus was on models for financing projects aimed at increasing production capacities, developing renewable energy sources and strengthening the energy security of Montenegro,” EPCG announced.
Previous cooperation has been particularly confirmed through the Gvozd wind farm project.
In 2023, the EBRD provided EUR 82 million for the first phase of the project, and the cooperation was subsequently expanded with additional financing of EUR 26 million, increasing the installed capacity from 55 megawatts (MW) to 75 MW.
Iron represents one of EPCG’s most significant investments in new production capacities and an important basis for future cooperation with international financial institutions.
Representatives of EPCG informed the EBRD about the development priorities and projects being prepared within the current investment cycle, with a special emphasis on sustainable financing models.
“The meeting expressed mutual willingness to continue intensive dialogue on specific projects and their financing possibilities,” the statement concluded.
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