Montenegro aims to launch biggest wind farm (118 MW) in 2026
Date: September 28th 2023
Author: Dušan Telesković
The Luxemburg-based renewables investor Alcazar Energy has acquired the rights to build the 118 MW Bijela wind farm in Montenegro and aims to have it online in 2026, it told Montel on Thursday.The wind farm, which will be the biggest in Montenegro, will be located near the northern town of Savnik and construction will begin in early 2025. It will cost USD 200m to build and is expected to create over 800 construction jobs, Alcazar Energy said in a press-release on Thursday.
“Once operational, it will produce enough clean energy to power over 20,700 households annually while avoiding the release of over 260,000 tons of CO2 per year”, it added.
The Bijela wind farm project is part of Montenegro’s 2040 national development strategy, which aims to reduce the country's greenhouse gas (GHG) emissions. It is expected to attract foreign investment and help develop the country's budding green energy sector.
At a signing ceremony on Thursday, Montenegrin prime minister Dritan Abazovic expressed his country's commitment to green development and welcomed investments in renewable energy.
“We are looking forward to the realisation of such a project in our country, especially given that it concerns the neglected northern part,” he said.
Meanwhile, Daniel Calderon, co-founder and managing partner at Alcazar Energy expressed his satisfaction with the acquisition.
"For Montenegro and the Western Balkans region, it will bring much-needed clean and also affordable electricity - and create long-term local jobs," he said.
Project pipelineAlcazar Energy has also told Montel that the Bijela wind farm project represents the first milestone in the company’s strategy to “create the region’s largest renewable energy platform, with an estimated total project investment in the region of USD 600m”.
“Bijela is the first of a number of transactions we are working to announce in the near future,” the company told Montel.
Alcazar has already publicly confirmed that it has begun discussions with several European off takers interested in purchasing the clean electricity generated by the Bijela wind farm.