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EBRD Supports Energy Infrastructure & Green Growth in Montenegro

Power News - Published on Wed, 12 Aug 2020

Image Source: Elektroprivreda Crne Gore
The EBRD is increasing its support in response to the economic impact of the coronavirus pandemic in Montenegro with a EUR 50 million senior loan for Elektroprivreda Crne Gore, the country’s main electricity provider. The financial package, approved under the EBRD’s coronavirus Solidarity Package, will support the company in absorbing the challenges pvresented by the Covid-19 crisis. The loan will help ensure the stability and resilience of the country’s energy provision while simultaneously protecting the achievements made by the Montenegrin energy sector in its ambitious clean growth and decarbonisation agenda.

The EBRD has previously financed the installation by EPCG and its distribution subsidiary CEDIS of smart meters throughout the power distribution grid for domestic consumers. The programme resulted in Montenegro becoming a regional leader in smart meter deployment and the first EBRD economy to meet the EU target for smart meter coverage.

To date, more than 80 per cent of customers in Montenegro already have smart meters, which translate into over 86,000 tonnes of CO2 savings per year. The company now aims to reach 85 per cent by the end of 2020. EPCG also targets the development of 300 MW of wind and solar generating capacity in the coming years.

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Posted By : Yogender Pancholi on Wed, 12 Aug 2020
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