EPCG AND ENVIRONMENTAL PROTECTION FUND (ECO FUND) SIGNED THE AGREEMENT FOR “SOLARI” PROJECTS

“Signing of the Agreement by EPCG and ECO Fund means that today we actually write new pages of energy development, what represents the beginning of energy revolution in Montenegro. Without question, “Solari 3000+ and Solari 500+” Project keeps up with the times, alongside the modern states of Europe and the world. Given the energy challenges, implementation of our joint project, acknowledged and supported by Montenegro's Government, is the constant need of our citizens, our company and our state“, said Nikola Rovčanin, EPCG's CEO. 

He expressed his conviction that this Project will only be entry into extensive installation of solar panels during years ahead of us.

“Every energy company is really proud of the fact that it has made it possible for the citizens to obtain free electricity under very favourable terms so that they generate electricity for their own household. ECO Fund, our partner in this project, will provide 20% subsidy for our citizens and EPCG will ensure long-term repayment. Therefore, everything is provided and adjusted to our citizens’ budget”, said Mr Rovčanin.

The fifth of the amount of funds for the Project implementation will be provided by Eco Fund, through subsidies for installation of photovoltaic panels for households and legal and physical entities, which funds will be provided in accordance with the Law on Environment and the Law on Protection against Adverse Impacts of Climate Change, though with prior consent of Montenegro’s Government.

“Given today's signing of the Agreement, ECO Fund has performed one of its basic duties - investing into energy efficiency-related projects and renewable energy sources, which means that we have considerably fulfilled our business mission. In addition to all these benefits for citizens and economy, ECO Fund, as a young organization, has the power and it is willing and ready to participate in this project to its end, because we think this will be a stepping-stone during further development of ECO Fund. I would like to thank EPCG and the Ministry of Ecology, Spatial Planning and Urbanism, who have included us in this process from the first day and I can freely say that we have been partners in this entire process, hoping that we will continue cooperating in the same spirit“, said Mr Boljević.

“Solari 3000+ and Solari 500+“ Project is the beginning of energy transition in Montenegro, and it is one of the most important investments into energy industry over the last 40 years. The project's objective is to reduce CO2 emissions to the extent least possible and protect the environment, through energy transition and installation of photovoltaic systems both in households and business entities.

Chairman of the Project Committee SOLARI 3000+ and 500+ and Chairman of EPCG Board of Directors, Milutin Đukanović, pointed out that the Public Invitation for citizens, natural and legal entities, owners of business companies will be published on November 1st of the current year, while opening of tender bids for equipment will take place in about ten days. 

“In this Project everyone is a winner and everybody wins, most of all citizens who will get modern technology with a repayment period of up to eight years and monthly instalment which will not be higher than their current average electricity bill, while afterwards they will be able to consume electricity free of charge. ECO Fund will also have benefits thereof, having in mind that it will initiate a strong investment cycle wherein facilities for renewable electricity generation will be constructed and certain restrictions in CO2 emission will be made. In any event, we believe that this is a historical chance for Montenegro to exploit its resources, while for EPCG this is a confirmation that it can be a driving force of the overall development. This is merely first phase of the Project, because in a case of great interest for installation of photovoltaic systems, and there is no logical  reason to think otherwise, our plan is to extend the Project to additional 4000 or 5000 new households and commercial facilities. This project simply should not be finished until every household and each citizen of Montenegro is provided with a chance to consume electricity from the photovoltaic system, Đukanović said.   

Đukanović reminded that a new company – “EPCG – Solar Gradnja” is established, which will carry out works envisaged by this Project, and we expect to employ between 400 and 500 citizens who will, he added, get an opportunity to work in a prominent company.

Implementation of the Project will, inter alia, contribute to promoting the approach of increasing the use of renewables and energy efficiency measures with CO2 emission reduction, as well as to environmental improvement, energy transition which is reflected in reduction of use of fossil fuels– coal and oil in electricity generation and substitution thereof by renewable energy sources. Furthermore, this Project will provide significant benefits to large number fo households and substantial number of legal entities, through the possibility of installation of photovoltaic panels up to 10 kW, i.e. 30 kW, and electricity generation for their own needs which can be distributed into the system in case of excess electricity generation, making them electricity generators and sellers, instead of consumers and customers.

Director of the Energy Directorate in the Ministry of Capital Investments, Mr Marko Perunović believes that this Project represents an innovation in terms of energy, as well as the first significant undertaking for everyone in the energy sector of Montenegro.

“EPCG is long recognized as a driving force not only in the energy sector, but in the entire economy of Montenegro and we hope that it will remain so. We perceive enormous determination and strength in the new management for implementation of all projects which were forgotten by the previous system. Such determination and unity of us all – EPCG, ECO Fund and all Ministries involved, is a force that draws us and which will lead to prompt Project implementation. We all hope that this is just a first phase in implementation of a significantly higher level of solarisation of Montenegro, having in mind that if this phase is promptly and well executed, by the end of it we will enter the second phase 5000+ for households and 1000+ for commercial facilities”, Perunović said. 

So far, EPCG launched an international invitation for the Project financing and the results will be known soon. Also, the tender for procurement of equipment is also launched, the company SOLAR GRADNJA is established for the needs of the Project implementation, while Public Invitation for citizens, containing defined conditions and manner to apply for participation in the Project, will be published at the beginning of November. 

Committee for Investments in the Energy Sector has an important role in this Project, as well as the Ministry of Ecology, Spatial Planning and Urbanism, the Ministry of Capital Investments, local authorities and CEDIS.