Montenegro is the only country in the region that has not increased the price of electricity for four years. One of the reasons lies in strategic investments in domestic capacities, through the Solari 3000+/500+ and 5000+ projects, SE Željezara, SE Vrtac, SE Kapino Polje, SE Krupac, SE Štedim, SE Gračanica, which are being implemented or will be implemented by the daughter companies EPCG-SOLAR-GRADNJA and EPCG-ŽELJEZARA. The more new sources of electricity we have, the more stable prices we will have.. These programs are an example of how domestic knowledge and work can achieve greater energy independence and economic stability. Of course, there are other significant projects that are being implemented (Gvozd1, Gvozd2, 8th Agregat, Kruševo, water valorization of the Nikšić field, BESS...), but in this text we will give an overview of the construction of solar power plants and the role of Solar Construction in the implementation of these projects.
To make the analysis correct, we will provide a table of what EPCG and its daughter company EPCG-Solar-Gradnja have done so far.
In the following table we will present the financial indicators of the construction of these solar power plants.
Record results and concrete figures
Thanks to the Solari 3000+/500+ and 5000+ projects, Montenegro today has close to 100 MWp of installed solar energy. Over 8.600 solar systems have been installed through the main programs alone, while industrial projects such as Željezara, Vrtac and Kapino Polje have added more than 14 MWp. This places Montenegro among the fastest growing countries in the region in the field of renewable energy sources.
Everyone wins.
The effects of these projects are measurable and multifaceted: • EPCG achieves through 8 million euros benefits because the released energy can be placed on the market at higher prices. (A small explanation for released energy. EPCG has so far supplied consumers, from hydroelectric power plants and thermal power plants, at a price of 43€/MWh. Since by installing a solar power plant, the consumer begins to supply himself, and the energy that was supplied to him until then is exported at a price of 104€/MWh, and we call it released energy). • Consumers earn almost 6 million euros direct savings because they cover a significant part of their consumption with their own, practically free energy. • The state budget generates almost 15 million euros through taxes, contributions and VAT. • EPCG-Solar-Construction, although with a temporary deficit of 5 million euros, which occurred in 2022 and 2023, enabled projects to be implemented and the social benefit to exceed the investment many times over.
In this analysis, we intentionally did not take into account the effects of reducing CO2 emissions, where 1 ton on the stock exchange has a value of €78, which is equivalent to 1 MWh. Production from renewable sources reduces CO2 emissions by 131.132 tons, and can represent savings of over 10 million euros.
In other words, every euro invested in EPCG-Solar-Gradnja brings 5 euros of benefit to society. This is an investment model rarely seen in the energy sector.
One note, EPCG-Solar-Gradnja ended 2024 positively, and we expect it to be the same in 2025.
Employment is not an expense, but an investment in the future.
EPCG-Solar-Gradnja employs around 500 workers, a figure that reflects the real scope of work, not administrative expansion. These are projects that cover more than 8.000 locations across Montenegro – households, companies and industrial plants. Such a scope of work requires teams of engineers, fitters, electricians and service technicians who work in the field every day. Unlike centralized power plants, solar projects require dozens of teams working simultaneously, which is why the number of employees is not only justified, but also necessary to maintain the dynamics and quality of the work.
Each of these jobs also contributes to the state budget – through taxes, contributions and spending. That is why employment at Solar Gradnja is not an expense, but an investment in domestic expertise and the energy future of Montenegro.
It is important to note that when the company was founded in Montenegro, there were no qualified and trained people with experience in the solar industry and the installation of these systems, and now we can say that the level of knowledge is at a high level, which is an added value, and time is necessary for the professional training of each staff member.
Domestic company, domestic knowledge
EPCG-Solar-Construction is proof that Montenegro has the capacity to independently implement energy projects without foreign contractors, on a turnkey basis. These projects have created a domestic value chain – from equipment procurement to installation and maintenance. This means that every euro invested in solar projects stays in Montenegro, strengthening the local economy and employment.
Perhaps someone wanted and hoped that the system of privileged producers would continue, and that only privileged individuals could produce electricity and earn millions of dollars at the expense of consumers, EPCG and the Budget of Montenegro. That time has passed, and today every consumer can become an electricity producer. That makes us especially proud.
Conclusion
The Solar Construction and EPCG projects are not party-related, but economic, social and development undertakings. Their results are visible and measurable: EPCG generates additional revenues, citizens pay less, and the state fills the budget. Thanks to these programs, Montenegro is becoming more energy independent and more resilient to global electricity price shocks. That is why it should be clearly stated – EPCG-Solar-Construction is not a problem, but a solution. It is a model in which domestic knowledge and work become the foundation of a modern energy-rich Montenegro.
( EPCG )
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