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Montenegro paid 12.87 million euros in incentives to privileged producers

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The latest data from the Montenegrin Electricity Market Operator (COTEE) show that eligible producers in Montenegro earned 25.4 million euros in 2020 for electricity produced from renewable energy sources (RES). Of that amount, 12.87 million euros refers to incentives for privileged producers paid by the economy and citizens through electricity bills. The wind farms Krnovo and Možura earned the most money on the basis of produced electricity, a total of 19.6 million, of which 10 million euros are incentives.

The Krnovo wind farm, owned by Krnovo Green Energy, backed by Masdar Energy and Krnovo Holdco, earned 12m euros from electricity production, of which citizens and the economy financed 6.2m euros through incentives.

The Možura wind farm, with the production of electricity, brought the owners an income of 7.62 million euros, of which 3.83 million euros are related to incentives. According to the Central Register of Business Entities (CRPS), the owner of Možura Wind Park is Enemalta, the state-owned company of Malta, with 10 percent, and Malta Montenegro Wind Power JV limited. The owners of Malta Montenegro Wind Power JV limited are International Renewable Energy Development Limited (70 percent), Vestigo Clean Energy I, which is registered in the British offshore zone on the island of Guernsey, and Envision Energy Internacional, based in Hong Kong, which owns 10 percent.

The Možura project is under investigation by the Maltese police and the European Police Agency Europol, as part of the investigation into the murder of Maltese investigative journalist Daphne Caruana Galicia and corrupt practices in that country.

When it comes to mini hydro power plants (sHPPs), which are managed by businessmen close to the DPS, the operation of 23 such energy facilities cost the citizens 2.7 million, while they earned a total of around five and a half million euros from the production of electricity.

As before, the company Hidroenergija Montenegro leads in terms of revenue, earning 1.72 million euros, of which 842.8 thousand euros are related to incentives. Hydropower operates seven mini hydropower plants in the municipality of Berane.

Among the privileged producers since April is the company BB Hidro, which has so far earned 11,840 euros from electricity production, of which 6,432 euros are incentives. Kronor earned 1.37 million euros for two small hydropower plants in the municipality of Plav, of which 739 thousand through incentives. SHPP Mojanska earned 569 thousand, of which 286 thousand through incentives, and SHPP Kutska 272 thousand, and 138.6 thousand through incentives.

Sinergy earned 202.7 thousand, and Hidro Bistrica, whose majority owner is Sinergy, 662 thousand euros. Nord Energy earned 217.6 thousand, of which 121 thousand from incentives.

Source: bankar.me

 

 

 

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