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PODGORICA (Montenegro), February 23 (SeeNews) - Montenegro's government said it has approved the acquisition of part of the transmission infrastructure of the country's only wind farm, in Krnovo, by power grid operator CGES.
The purchase of part of the transmission infrastructure built by the investor in the wind farm is envisaged in the ten-year plan for the management of Montenegro's power transmission grid and will be funded by a 5.8 million euro ($7.1 million) grant from the European Union, the government said in a statement on Thursday.
The financing is part of the 25 million euro grant extended by the EU for the development of the Trans-Balkan Electricity Corridor, the government said.
The 72 MW 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 ($147.4 million), with 48.5 million euro coming from a senior loan extended by the European Bank for Reconstruction and Development.
($ = 0.812157 euro)