PODGORICA (Montenegro), June 2 (SeeNews) – Montenegro's power utility Elektroprivreda Crne Gore (EPCG) [MNG:EPCG] may build a 170 MW Komarnica hydropower plant (HPP) in partnership with another company, local media reported on Tuesday.
It is up to EPCG to decide whether to build the project on its own or in partnership, daily Vijesti quoted economy minister Dragica Sekulic as saying.
"The state has the right to award the concession contract directly to EPCG, and it has the right to make a decision on whether to go for it alone, whether to take out a loan or to build the plant from its own funds," Sekulic said.
The ministry of sustainable development said last week that the government plans to invest 246 million euro ($273 million) in the construction of a 170 MW HPP on Komarnica river. The construction of the hydropower plant in Montenegro's north is expected to take five years to complete, the ministry said.
The Komarnica hydro power project was initiated in the 1980s. Since then, research work needed to obtain data for the planned implementation of the project has been carried out by several regional companies. The power plant is expected to produce 200 GWh of electricity per year.
($ = 0.893989 euro)