Montenegro’s EPCG secures loan for new unit in HPP Perućica

Elektroprivreda Crne Gore has obtained financing for the installation of the A8 unit at its Perućica hydropower plant, increasing capacity from 307 MW to 365.5 MW. The loan agreement with KfW Development Bank includes a EUR 40 million loan. The project involves modernizing HPP Perućica with a 58.5 MW aggregate. The loan, facilitated by the European Commission and KfW with EFSD+ guarantee, is the first of its kind in the region. Ivan Bulatović, EPCG’s CEO, emphasized the significance of the EFSD+ guarantee for company credibility and decarbonization efforts. Ivan Mrvaljević highlighted the role of new energy sector circumstances in implementing the A8 unit. Pablo Obrador, KfW's director, disclosed the overall investment in HPP Perućica. The international tender for the A8 unit will be launched in October, aiming for online operation by 2027. Minister of Energy and Mining Saša Mujović stressed the strategic significance of the project for the energy sector. EPCG also signed a contract with CGES for unit A8 grid connection.

Source:

https://balkangreenenergynews.com/montenegros-epcg-secures-loan-for-new-unit-in-hpp-perucica/

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