Lazovic said the agreement with A2A is to complete the project through a special-purpose company, as guarantee for its implementation – actually for obtaining favorable loans and financing.
“The Czech Export Bank has now requested that the Electric Power Company of Montenegro (EPCG) participates an an investor, which requires the consent of A2A. In the next few days, the A2A will in direct communication with the Czech Export Bank try to find an agreement for this model”, said Lazovic after the signing of the Cooperation Agreement with the Executive Director of Investment and Development Fund, Zoran Vukcevic.
The government, he added, gave its approval to EPCG to be the guarantor.
“It’s not just one contracting party and consent of one company. We have more subjects, like Skoda Praha as the first-ranked bidder for the construction of the TPP, the Czech Export Bank, which should the company in financing and construction of the second block, and then there’s Italian A2A”, said Lazovic.
According to him, the A2A agreed to have the operations and construction of the second block assigned to a special purpose company, in which the state would participate with 51 percent, and EPCG with 49 percent. Within this participation of 49 percent, A2A would participate with 41.7 percent, which is their current share of capital in EPCG.
If the deal with A2A does not happen, Deputy Prime Minister said, it is up to EPCG to see if it can take the burden of financing on its own – in which case the citizens will be guaranteeing and paying for it.
