Contract signed for the procurement, delivery, installation, commissioning and long-term maintenance of wind turbines for "Gvozd 2"

The Electric Power Company of Montenegro (EPCG) and the company Nordeks have signed a contract for the procurement, delivery, installation, commissioning and long-term maintenance of wind generators for the "Gvozd 2" project, which continues the strong investment cycle in the field of renewable energy sources and further strengthens EPCG's position as the carrier of the energy transition in Montenegro, PR Center reports today.

The contract, signed today in Nikšić, represents a continuation of the successful implementation of the first phase of the project (Gvozd 1) and another concrete step towards decarbonization of the energy sector. The investment is worth close to 26 million euros and is being implemented with the support of the European Bank for Reconstruction and Development (EBRD), through a favorable loan arrangement that confirms the financial stability and sustainability of the EPCG investment cycle, according to PR Center.

The "Gvozd 2" project includes the installation of three new wind turbines with a total capacity of 21 MW, with an estimated annual production of 63 GWh. This will bring the total installed capacity of the Gvozd wind farm to 75,6 MW, while the total annual production will exceed 210 GWh, which is enough to supply more than 35.000 households. At the same time, the project will contribute to reducing CO₂ emissions by almost 137.000 tons per year.

With the implementation of the second phase, the Gvozd wind farm will become the largest wind energy facility in Montenegro, in whose construction we have invested a total of 107,6 million euros, thus confirming our strategic commitment to the development of sustainable and clean energy sources.

The contract was signed by the Chairman of the Board of Directors of EPCG Milutin Đukanović, Executive Director of EPCG Zdravko Dragaš, Vice President of Nordex for the Mediterranean Region Anna Katarina De Tourtier, Sales Director of Nordex for the Eastern Mediterranean Maxime Harroy, Executive Director of Nordex for Montenegro Vladimir Kolarević, and the ceremonial event was also attended by the Minister of Energy and Mining in the Government of Montenegro Admir Šahmanović and the EBRD representative Remon Zakaria.

Milutin Đukanović, President of the Board of Directors of EPCG, stated that the "Gvozd 2" project represents another confirmation of the company's strategic orientation towards sustainable development and greater reliance on renewable energy sources, emphasizing the broader significance of the investment.

"This investment represents not only progress in the energy sector, but also a significant development step for Montenegro, which contributes to the long-term stability of the system and strengthening the energy power of the country," Djukanovic emphasized.

EPCG Executive Director, Zdravko Dragaš, pointed out that the signing of the contract represents a continuation of the company's strong investment cycle and the concretization of strategic goals in the field of green energy.

"'Gvozd 2' will significantly increase the production of green energy and further improve the efficiency of our production portfolio, with a strong focus on environmental standards," Dragaš emphasized.

Anna Katarina De Tourtier, Vice President of Nordex for the Mediterranean Region, pointed out that this project is part of a broader regional strategy for the development of renewable energy sources.

"The cooperation with EPCG confirms our commitment to supporting energy companies in their transition towards sustainable and low-carbon solutions," concluded De Tourtier.

Admir Šahmanović, Minister of Energy and Mining in the Government of Montenegro, pointed out the importance of this project for the national energy strategy and the green transition process.

"Gvozd 2 is more than just another RES facility, it is an investment in the security and independence of our country. In a changing world, we choose to build our own capacities for a more stable future for all citizens," said Šahmanović.

Remon Zakaria, Head of the EBRD Office in Montenegro, emphasized the institution's continued support for the development of sustainable energy projects in Montenegro.

"We are pleased to be able to support EPCG in the implementation of the 'Gvozd 2' project, which represents an example of a well-prepared and sustainable investment. The EBRD remains a reliable partner of Montenegro in the process of energy transition and development of the green economy," added Zakaria.

EPCG remains committed to the continuous improvement of energy infrastructure and the development of projects that contribute to the green transition, economic development and long-term well-being of all citizens of Montenegro, the PR Center's text states.