Montenegro to award 30-year HPP concession to EPCG, NTE

The concession contract for the planned 1,672 kW Slap Zete hydropower plant will be signed within 15 days, the government said in a statement on Thursday after its regular cabinet meeting.

The estimated annual production of the plant is 8.71 GWh, the statement said, adding the annual concession fee is set at 6.5% of the cash equivalent of the produced electricity.

The project company is Danilovgrad-based Zeta Energy, which is a 51/49 joint venture of EPCG and NTE Montenegro. The latter is in turn a 51/49 joint venture of Norway's NTE and local construction firm Zetagradnja.