During its 44th session, chaired by Prime Minister Milojko Spajić, the Montenegrin government approved a proposal for a direct long-term loan for “Elektroprivreda Crne Gore” AD Nikšić.
Elektroprivreda has requested a €10 million direct loan from the Investment and Development Fund to finance the “Solari 5000+ 70MW” project. This initiative will support the financing, procurement, and installation of photovoltaic systems for homes and businesses across Montenegro.
The Investment and Development Fund has decided to grant the loan with a 96-month repayment period (excluding a 24-month grace period) and an annual interest rate of 4.00% (using a proportional interest calculation system).
The “5000+” project is already underway, with an installed capacity of 11.268 kW. There is significant interest, with over 16,000 households and businesses having applied. The project’s total value could reach up to €82 million, with an overall installed capacity of around 70 MW.
The Credit and Guarantee Board of the Investment and Development Fund has endorsed the financing, emphasizing the project’s role in advancing renewable energy and reducing electricity costs for end users.
