Montenegro’s Energy Sector To Absorb 2.64 Bln Euro in Investment over Next Six Years - Media
BELGRADE (Serbia), September 15 (SeeNews) – Montenegrin Economy Minister Branko Vujovic said on Tuesday that the country’s energy sector will absorb 2.64 billion euro ($3.86 billion) in investment over the next six years, regional media reported.
The resource will be spent on the construction of four hydro power plants on the Moraca river, the addition of two new thermal power stations and the deployment of an underwater power cable across the Adriatic Sea to Italy, among other projects, Serbian news broadcaster b92 (www.b92.net) reported, quoting Vujovic.
Vujovic said a prequalification tender for the four hydro power plants will be opened in November, adding that the construction of the facilities, with a combined installed capacity of 258 megawatts (MW), will last six years and cost half a billion euro, b92 said.
A prequalification tender for the construction of the two thermal power plants of 250 MW each will also be launched in November under a project with an estimated value of 1.2 billion euro, Vujovic said.
He added that the investment cost of the undersea cable is estimated at 590 million euro and that the project will be implemented by Italian electricity transmission system operator Terna, while Montenegro will build a 20 million euro transformer station in its Adriatic town of Tivat and a 70 million euro powerline from Tivat to Pljevlja, in the north, where the country’s sole thermal power plant is located.
Montenegro, which relies heavily on electricity imports to satisfy its domestic needs, invited earlier on Tuesday investors to take part in a prequalification tender for the award of concession contracts for small hydro power plants in 10 locations.
That project has a combined tab of 60 million euro, Lazovic was quoted as saying by b92.
He added the government is due to adopt a legal framework for the development of wind power facilities and for their connection to the electricity grid.
Montenegro imports over a third of its annual power consumption, which exceeds four billion kilowatt hours. The country has installed power capacities of 868 MW. Almost two thirds of its electricity output is produced by the two big hydro power stations, Perucica and Piva, and around one third is contributed by its sole thermal power plant TE Pljevlja.