The project is being implemented by the Austrian company Ivicom Consulting and the French company Akuo Energy. Their representative for construction is the newly established Krnovo Green Energy, while the European Bank for Reconstruction and Development (EBRD), German Development Bank (KfW) and Proparco (subsidiary of the French Development Agency dedicated to financing the private sector) are financing it.
The realization of the project worth 120 million euros was launched in May last year, and according to current state of its development, the remaining six wind farms will be assembled in a month.
The construction of wind farms in Krnovo is the first large-scale investment in electricity production in Montenegro since 1980.
Foundations for the remaining six wind farms will soon be ready, but their installment will have to wait for better weather conditions.
Wind power plants will have an installed power of 72 MW and an annual production of 200 to 230 gigawatt hours. They are being installed at an altitude of about 1.500 meters, where, according to expert estimates, the average wind speed is about 5.5 to 6.5 meters per second. Windmill’s generator is located at a height of 85 meters and weighs 83.5 tons.
The national target of 33 percent share of renewable energy in total consumption will be much more realistic once the construction of wind farms in Krnovo is completed.
The land was given as a lease for 20 years, with possibility of extension up to five years.
The country promised in a contract that the purchase price of electricity produced by wind power will be guaranteed and fixed for the first 12 years of operation, and that it will not be less than 95.99 euros per megawatt hour.
On the Možura hill near Bar, 23 wind farms will be installed in a project worth 40 million euros.
