EPCG and Masdar target 2027 for Montenegro solar projects construction
Montenegro’s state utility EPCG and Masdar plan to begin construction of their first jointly owned solar projects in 2027, subject to the successful completion of engineering, permitting, financing, and governance processes. The announced projects include the 115 MW Štedim and 35 MW Krupac solar plants, which will be located near Nikšić.
Montenegro solar projects scope and capacity
The proposed projects are part of a more extensive initiative that could potentially expand to a total of 2 GW of renewable energy capacity in Montenegro. The plans are still in early stages, with the partners yet to make a final investment decision and establish a jointly owned company. They also need to sign a shareholders’ agreement.
Montenegro solar projects pending requirements
Significant processes remain before construction can commence. EPCG and Masdar must finalize governance structures, funding arrangements, environmental and technical documentation, grid capacity assessments, and power-sales agreements. The specific financial details regarding the construction budget and the mix of debt and equity funding remain undisclosed.
Additional Montenegro solar projects timelines
In addition to the larger solar facilities, EPCG and Masdar are also targeting completion of the 28.88 MWp Kapino Polje B2 project by June 30, 2027.
Sources of Montenegro solar projects information
- EPCG and Masdar target 2027 construction start for Montenegro’s first joint solar project
- Montenegro seeks CBAM delay to 2027, cites €191M annual cost risk
- EPCG solar expansion: Discover 200 MW Solar Power Plant Plans
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