EPCG has marked 108 years of operation in the heat of the investment momentum

By reconstructing and modernizing generating capacities EPCG wants to retain its leading position at the electricity market in Montenegro, ‘particularly in terms of the open market and possible entry of new suppliers’.

On the occasion of the company anniversary, Igor Noveljić, EPCG’s CEO, has estimated that investments will ensure high operating readiness of equipment and facilities, operating reliability of energy undertakings as well as higher safety of electricity supply for all consumption categories. 

‘Ecological rehabilitation of the existing unit of Pljevlja TPP is well underway, which will cost around 60 million euros, together with reclamation of the existing ash and slag landfill. Also, around 60 million euros will be invested in HPP Perućica, in addition to funding provided by KfW bank. We here also imply additional capacities, installation of the eighth unit by which we will obtain 60 megawatts of installed capacity’, said Noveljić.

Our generating facilities will soon have the most modern equipment in the 21st century.

Implementation of the second phase during modernization of HPP Piva will significantly contribute, worth more than ten million euros, and the contract was signed at the end of July with the renowned partners – Litostroj, Slovenian company and ABB, Italian Company.

The development of investment and engineering documents for the needs of construction of HPP Komarnica is being successfully finalized, and nearly two million euros have been appropriated for this purpose.

Extraordinary business results of the Company during the first half of the year represent high impetus to the investments, what resulted in net profit amounting to around 43 million euros.  

Mr Noveljić has informed that small hydro-power plant Otilovići will be constructed during the forthcoming period.

‘Furthermore, additional projects we plan to implement and which we have already undertaken are about construction of new wind or possibly solar capacities. Therefore, in addition to all investments into the existing facilities, we expect to obtain certain installed new capacity’, said Noveljić. 

EPCG has recently become the owner of Pljevlja Coal Mine, and the Memorandum of Understanding for the ‘Gvozd’ wind-park project was signed, which will be implemented in the municipality of Nikšić. 70 million euros is planned to be invested in the construction thereof.  

August 19th is the date chosen by EPCG to be celebrated as the date on which the king Nikola I commissioned the first electrical plant in Montenegro.