• The Montenegro’s Ministry of Economy has announced that three bidders are participating in its 200 MW solar power tender
  • One of the bidders is a consortium of Finnish energy company Fortum along with local Montenegro utility EPCG
  • IREDL, a joint venture between China’s Shanghai Electric Power, and Maltese utility Enemalta Corp is another contender
  • The third bidder is local consortium Montesolar
  • First phase of the 200 MW project will see 50 MW being developed within 18 months

Only three bidders have shown interest in the 200 MW solar power tender in European country Montenegro. The bidders are a consortium of Finland’s Fortum with local utility Elektroprivreda Crne Gore (EPCG); Malta based International Renewable Energy Development Limited (IREDL) – a joint venture between China’s Shanghai Electric Power and Maltese utility Enemalta Corp.; and local consortium Montesolar.

“At Fortum’s invitation, EPCG Management identified this project as both financially and strategically well positioned opportunity for future development, one of great significance for energy potential while Company business performances complement the planned, ambitious investment cycle,” said EPCG management.

The Ministry of Economy had issued a public call to lease state-owned land for the construction of a 200 MW solar power plant in June 2018 (see 200 MW PV Tender In Montenegro). Land for the project will be leased for a period of 30 years for an initial minimum price of the annual lease of €0.05 ($0.058) per m2. Total land area available for the plant will be 6,621,121 m2.

The proposed project will be located in Briska Gora in Ulcinj municipality. In the first phase, 50 MW will be deployed within 18 months of signing the land lease agreement. The other 150 MW will come up over a period of three years from the date of signing the contract. In all, total time for the entire capacity to come online is expected to be 36 months.