Montenegrin state-owned power utility EPCG and Austrian company Ivicom have signed a Memorandum of Understanding (MoU) on the construction of Gvozd wind farm.
Total investment in the construction of this 50 MW wind farm, located near Niksic, will amount to 70 million euros. CEO of EPCG Igor Noveljic said that the project will be cost effective as the submarine power cable between Montenegro and Italy will offer opportunities for export of “green” energy to Italian and European markets. The construction of Gvozd wind farm will be financed through loans, which will be provided by international financial institutions.
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