Agreement on construction of Unit II of Pljevlja thermal power plant – Investment worth EUR 324.5 million

Elektroprivreda Crne Gore (EPCG) and the Czech Skoda Praha signed the agreement on the construction of Unit II of the Pljevlja thermal power plant (TPP Pljevlja) on September 29 in Pljevlja. The value of the project is EUR 324.5 million and the unit should be built withing three years.

The construction of this electrical energy facility, the first project on such a scale in 35 years, will turn Montenegro into an energy independent country, EPCG reported after the signing of the agreement.

As stated, for the local populace, the new unit will solve the problem of heating, which is the biggest source of environmental pollution in Pljevlja, and it will also provide the starting point for the district heating project of Pljevlja. The project should be financed by the Czech Export Bank.

The agreement was signed by Peter Bodnar, chairman of the Board of Directors, and Martin Pohlodek, vice president of the Board of Directors of Skoda Praha, and CEO Tonino Maglio on behalf of EPCG.

The agreement was signed in the presence of the leaders of the Government of Montenegro, which has been in favor if the construction of Unit II for years, but used to be opposed by its partner in the national electrical energy company, the Italian A2A.

The government reached an agreement with A2A, the second biggest shareholder in EPCG with 41.7% of ownership, several months ago.

Elektroprivreda Crne Gore ad Nikšić

Škoda auto a.s. Češka Republika

Termoelektrana Pljevlja

Vlada Crne Gore

A2A Spa Italy

EPCG

Skoda Praha

Pljevlja thermal power plant

TPP Pljevlja

Peter Bodnar

Martin Pohlodek

Tonino Maglio

A2A