•  
  •  
  •  

Montenegro's sole wind farm Krnovo output declines in July

Krnovo wind farm; Source: Bemax

PODGORICA (Montenegro), September 20 (SeeNews) – Montenegro's only wind farm, in Krnovo, produced 11,851 MWh of electricity in July, down 4.9% on the month, the country's electricity market operator COTEE said.

The 72 MW Krnovo wind farm had the largest contribution to the country's renewable energy output produced under incentive schemes, which rose to 18,875 MWh in July from 845 MWh in the like period of 2017, according to data posted on the website of COTEE.

In the first seven months of 2018, the Krnovo wind farm produced 164,777 MWh of electricity.

The Krnovo wind farm was launched by France's Akuo Energy and Austria's Ivicom via their Montenegrin subsidiary Krnovo Green Energy in November. The project had an estimated cost of 120 million euro ($140.4 million), with 48.5 million euro coming from a senior loan extended by the European Bank for Reconstruction and Development (EBRD).

Earlier this year, Akuo Energy said it signed an agreement to sell a 49% stake in Krnovo Green Energy to Abu Dhabi-based Masdar.

Montenegro is a renewable energy leader in Europe, with more than 40% of its domestic electricity consumption coming from clean energy sources, Akuo Energy said in January.

($ = 0.854487 euro)

More stories to explore
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription