The Electric Power Company (ECPG) announced that they have signed a contract today with the company "Vigoris Ecotech" from Podgorica for the implementation of the project to build a small hydroelectric power plant "Otilovići", which includes the development of the main design, construction of civil engineering structures, delivery and installation of electro-mechanical equipment, testing and commissioning, on a "turnkey" basis.
The contract was concluded after an open public procurement procedure, and the total investment value is 6.795.000 euros, excluding VAT.
"The project involves the installation of two units with horizontal Francis turbines, with a total installed capacity of 3,2 MW, with a planned annual production of around 11 GWh," the statement reads.
EPCG Executive Director Zdravko Dragaš said that the small hydropower plant "Otilovići" represents another concrete step in the realization of the company's investment cycle and the strengthening of domestic production capacities.
"With this Agreement, we confirm the clear development orientation of EPCG to invest in reliable, sustainable and domestic energy sources, with full application of modern standards and procedures. The 'Otilovići' SHPP is a project that brings new value to the energy system of Montenegro and strengthens our overall stability and flexibility of production," Dragaš emphasized.
The Executive Director of Vigoris Ecotech, Siniša Višnjić, said that the implementation of the project will be guided by high standards of quality and safety, with precisely defined deadlines and obligations.
"Our goal is to deliver a solution to EPCG that will justify their trust, from the main design to final testing and commissioning. We will implement the 'Otilovići' SHPP professionally, responsibly and in accordance with the requirements of the tender documentation and the agreed 'turnkey' principle," said Višnjić.
Elektroprivreda emphasizes that the Otilovići small hydropower plant project has been recognized as one of the priorities in the field of hydropower in the strategic plans of EPCG and Montenegro.
Upon completion of the works, they said, the planned annual electricity production will be sufficient to cover the needs of around 1.800 households, while annual emissions savings of around 7.600 tons of carbon dioxide are expected.
"With this project, EPCG continues to consistently develop its investment portfolio in the field of renewable energy sources, with a focus on increasing domestic production, security of supply and measurable benefits for citizens and the economy. In the coming period, the company will continue to launch and implement projects that strengthen Montenegro's energy stability and contribute to its green transition," the statement reads.
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