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Montenegro's govt approves 30 mln euro loan to EPCG for investment in PV panels

Author Radomir Ralev
Montenegro's govt approves 30 mln euro loan to EPCG for investment in PV panels Source: EPCG

PODGORICA (Montenegro), January 20 (SeeNews) - Montenegro's government said it approved a 30 million euro ($34 million) loan in favour of power utility EPCG [MNE:EPCG] from state-owned investment and development fund IRF, to be used to finance investment in photovoltaic equipment.

The loan will be used to finance the Solari 3000+ and Solari 500+ programmes for installation of rooftop solar panels by households and small industrial facilities, the government said in a statement on Wednesday.

The loan will be granted at an annual interest rate of 1.6%, with a repayment period of 96 months, including a grace period of 24 months.

Under the project, EPCG will provide solar panels and will manage their installation, while households and companies will repay the equipment over a period of five to seven years.

($ = 0.88115 euro)

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