Montenegrin Government Adopts 1.39 Bln Euro Five-Year Energy Strategy
PODGORICA (Montenegro), October 31 (SeeNews) – The Montenegrin government has adopted a 1.391 billion euro ($1.792 billion) energy strategy until the end of 2012, which aims to boost the electricity output and develop the renewable energy potential of the imports-dependent country, Economic Development Minister Branimir Gvozdenovic said.
The strategy will be financed through the capital of energy companies, through private investors, loans and donations, as 22 million euro will come from the budget, Gvozdenovic told a news conference on Thursday.
He said the strategy covers 35 projects, which include the ongoing tender for the design and construction of four small hydropower plants with a total installed capacity of 238 megawatts on the Moraca River, the planned construction of the second unit of the country’s thermal power plant, the launched development of more small hydropower plants and the increase of the capacity and efficiency of existing energy sources.
Montenegro has nine small hydropower plants, which together generate some 200 million kilowatthours (kWh) annually, or around one percent of the country's electricity production.
There are two big hydropower plants in the country, Perucica and Piva, which have a combined capacity of 650 MW and generate some two billion kWh annually. Montenegro's annual power consumption exceeds four billion kWh.
Last month Gvozdenovic said that this year alone the country will spend some 130 million euro to import 1.65-1.7 GWh of electricity.