Montenegrin state-owned power utility EPCG has obtained government approval to borrow 25.63 million euros from the European Bank for Reconstruction and Development (EBRD) to finance the second phase of the Gvozd wind farm, which will add 21 MW of capacity. The original Gvozd installation currently has 54.6 MW and is expected to generate approximately 150 GWh annually. The expansion will boost renewable energy production and enhance supply reliability for consumers in Montenegro.
The government highlighted the project’s strategic importance due to its contributions to generation diversification, alignment with climate goals, and improved grid resilience.
Earlier in 2025, EPCG secured an 82 million euro credit agreement with the EBRD for the first phase of the Gvozd wind project. To support both phases, EPCG engaged Germany’s Fichtner to conduct wind resource assessments and market viability studies, ensuring performance and financial targets are met.
Alongside the wind farm development, EPCG is advancing a digital upgrade of its distribution network through the deployment of SCADA (Supervisory Control and Data Acquisition) and ADMS (Advanced Distribution Management System) technologies. These systems will enable real-time monitoring, automated fault detection, and advanced energy flow management, facilitating smoother integration of renewables and reducing outage times. EPCG formalized a separate 35 million euro EBRD loan facility for this digital transformation in January 2025.
