Start of Construction of Krnovo Wind Power Plant (72 MW) in Montenegro

GE 2,85 MW Wind Turbine

GE 2,85 MW Wind Turbine

After more then six years of Krnovo WPP development, which was including wind assessment data, basic design and permitting, finance setup etc, project is finally entering in construction phase.

Total project cost is expected to be 120 mill €, financed by loan from EBRD and KFW Bank.

The borrower will be Krnovo Green Energy d.o.o., a special purpose vehicle established by IVICOM Holding Vienna for the sole purpose of construction and operation of the Project.

The sponsor is Akuo Energy SAS, a Paris-based renewable energy developer and operator.

Key contractors for project execution are GE (wind turbines), Siemens (substations and transmission lines) and Porr for BOP works.

IVICOM Consulting will provide complete supervision services during construction and commissioning. Works to start during June 2015 and should last for 18 months, pending on site weather conditions.