The European Bank for Reconstruction and Development (EBRD) will provide an 82 million euros loan to power utility EPCG and Green Gvozd, a special-purpose vehicle to be fully acquired by EPCG. The loan will help finance the acquisition, construction and operation of the 55 MW wind farm Gvozd in Niksic, the first wind farm to be built by EPCG.
The Gvozd wind farm will generate enough electricity to cover the annual demand of more than 25,000 households and is expected to save at least 104,000 tons of CO2 emissions per year.
It will be the second wind farm financed by the EBRD in Montenegro, after the 72 MW Krnovo wind farm. EBRD Country Manager for Montenegro Ramon Zakaria said that this project is critical to initiate the decarbonization of the energy sector in Montenegro and will support not only EPCG’s decarbonization ambitions but also significantly contribute to Montenegro’s energy security and green transition.
