Ivicom–Mitsubishi to start building 50 MW wind farm in Montenegro in 2011 - report

(ADPnews) – Sep 8, 2010 – A consortium of Vienna-based Ivicom Consulting and Mitsubishi Heavy Industries Ltd (TYO:7011) hopes to start the construction of a 50 MW wind farm in Niksic, central Montenegro, next summer, local TV and radio broadcaster RTCG reported yesterday.

The consortium hopes to receive all necessary permits for the project by July 2011. Construction works will take 24 months to complete.

Earlier this year, the Montenegrin government approved a contract with the consortium for a 20-year lease of the land and the construction of the wind farm, whose capacity can be extended by 22 MW. The investment is estimated in the range of between EUR 90 million and EUR 100 million (USD 114m-127m).

(EUR 1.0 = USD 1.27)

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