Montenegrin Ministry of Economy announced that the investor of Krnovo wind farm project informed the Ministry last week that the construction of all 26 wind turbines at the site of the wind farm has been completed.
However, the exact date of wind farm’s commissioning has not been determined yet, but the Ministry reminded that according to the concession agreement, the wind farm has to be put into operation by 7 May 2017 at latest. The state committed that the purchases of electricity produced by the wind farm will be guaranteed and that the the price will be fixed for the first 12 years of operation, and it will not be less than 95.99 euros/MWh. Estimated average annual production of this 72 MW wind farm is 215,000 MWh, therefore, according to the current price of electricity of 38 euros/MWh, total annual subsidy for Krnovo wind farm would amount to 12.7 million euros, which will be paid by end consumers. State land has been leased for the period of 20 years, with an option of extension of up to five years.
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed
Tags: Akuo Energy, construction, electricity, Ivicom, Krnovo, Montenegro, renewables, wind, wind farm