Alcazar Energy Partners, an independent investor in renewable energy across growth markets, has signed an agreement with Elektroprivreda Crne Gore (EPCG), the state-owned electricity distribution utility company of Montenegro in the Balkans.
The agreement initiates discussions for a power-purchase agreement (PPA) for the Bijela wind farm, which is set to become Montenegro’s largest wind farm with an export capacity of 118.8 megawatts.
Bijela represents a major economic investment for Montenegro and forms a key component of the government’s 2040 National Development Strategy, while also supporting the country’s commitment to reduce greenhouse-gas emissions. The project will provide clean energy to more than 16,000 Montengrin households while preventing the release of up to 230,000 tons of carbon-dioxide emissions annually.
Bijela has secured support from The European Bank of Reconstruction and Development as part of the mandated lender group.
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