Montenegro approves 33 mln euro loan guarantee for HPP Perucica overhaul
» Montenegro approves 33 mln euro loan guarantee…
PODGORICA (Montenegro), August 2 (SeeNews) – Montenegro’s government has decided to issue a 33 million euro ($36.6 million) loan guarantee in a project for the overhaul of the 307 MW hydropower plant (HPP) Perucica, it said on Friday.
The guarantee will cover a 33 million euro loan to be extended by German development bank KfW to Montenegrin power utility company Elektroprivreda Crne Gore (EPCG) [MNG:EPCG] for the purpose of financing Phase II of Perucica’s overhaul, the Montenegrin government said in a statement.
The project includes reconstruction and modernisation of hydraulic and electrical equipment of A5, A6 and A7 turbines and installation of an integral information system, among others.
EPCG said in May 2018 it plans to invest 170 million euro in the next five years to enhance the safety of operation of its power plants, boost efficiency and ensure stable functioning of the country’s power system.
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