Montenegro's EPCG to invest 700 mln euro in renewable energy projects by 2022

"The Briska Gora photovoltaic plant, the Gvozd wind farm and the Komarnica hydropower plant will have a total capacity of about 500 MW," Mrvaljevic said in a video file posted on the website of public broadcaster RTCG on Monday.

Last month, the shareholders of EPCG approved a 58 million euro investment in the construction of the 50 MW Gvozd wind farm in cooperation with Austria's Ivicom Holding GmbH.

The Montenegrin company won in December 2018 a contract to build the 178 million euro Briska Gora PV plant, with a capacity of about 200 MW, in consortium with Finland's Fortum.

($ = 0.8975 euro)