Montenegro’s state-owned power utility, EPCG, plans to invest over €72 million in the HPP Komarnica project by the end of 2028. However, this initiative has faced significant opposition from the civil sector, particularly from the non-governmental organization Action for Social Justice (ASP). They cite concerns over the project’s economic viability and potential threats to the Nevidio canyon along the Komarnica river.
EPCG received the concession to develop HPP Komarnica from the previous DPS government, with investment to occur in partnership with Serbian power utility EPS. While the exact investment figures remain unclear, estimates have varied, with some projections reaching as high as €300 million.
According to ASP, of the €72 million earmarked for HPP Komarnica, approximately €60 million is expected to be spent in the last two years of the investment period, specifically in 2027 and 2028. Currently, EPCG operates two aging hydropower plants—Perucica and Piva—and is focused on modernization to boost annual electricity production and extend their operational lifespan.
Despite ongoing protests from environmental groups advocating for the preservation of the Komarnica river, EPCG appears to be moving forward with the project. Additionally, EPCG has announced plans to invest several million euros in the next three years for the preparation of investment and technical documentation for the HPP Krusevo.
EPCG is also committing €164 million over the next three years to solar energy projects, investing around €55 million annually. Specifically, €40 million is projected for the development of the Krupac solar power plant, with €25 million planned for 2024 and over €15 million for the following year. In 2024, EPCG initiated the development of a detailed study for the Krupac solar project.
The previously announced Briska Gora solar project, which was developed in partnership with a Finnish firm, has entered the implementation phase but has been criticized for a lack of proper preparation. As a result, EPCG has excluded this project from its future investment plans.
