Montenegro’s Economy Minister Vladimir Kavarić awarded concessions agreements for the construction of ten small hydro power plants on six watercourses in Montenegro to representatives of the following five consortiums:
- "Hydro Bistrica", for the construction of a small hydro power plants on the river Bistrica;- "Plava Hydro Power", for the construction of two small hydro power plants on the River Đurička;- "Interenergo", for the construction of two small hydro power plants on the River Vermica;- "Hydro Power Montenegro", for the construction of a small hydropower plant on the Kaludarska River;-"Kutska and Mojanska", for the construction of four small hydropower plants on the rivers Kutska and Mojanska.
The agreements provide for the construction of ten small hydro power plants with total installed capacity of 23,324 MW and projected annual production of 86.289 GWh. Based on the accepted conceptual ideas, the total investment amounts to EUR 46,632,972.00.
"By constructing the small hydro-power plants, Montenegro meets its European obligations and receives extra electricity which can be exported. It will be of crucial importance especially following the construction of the underwater energy cable between Montenegro and Italy," Minister Kavarić told the press following the awarding ceremony.
He added that renewable energy sources are the most environmentally friendly and the cheapest sources, and, very importantly, they reduce the need for the electricity import. Furthermore, having in mind that most of the hydro-power plants are located in Montenegro’s underdeveloped areas, these projects will make a significant contribution to economic development through the construction of transport and energy infrastructure.
The concession agreements provides for rules for project design, construction, operation and maintenance of the small hydro power plants.