Montenegro Licenses Slovak-Montenegrin Firm to Build 624 KW Hydro Power Complex

Montenegro said it licensed Slovak-Montenegrin firm Kol Energy to build several small hydropower plants with a combined installed capacity of 624 kilowatts.

The new plants will produce 2.496 gigawatthours of electricity a year, the government said in a statement last week.

The investment in the project will be some 1.2 million euro ($1.6 million), as the plants will have revenue of around 250,000 euro, depending on the size of the state subsidies they receive.

The hydropower complex will be located on the Rastak waterfall, in Montenegro’s northern mountaneous municipality of Kolasin.

Kol Energy is a joint venture of the Kolasin municipality and investors from Slovakia.

($=0.7276 euro)

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