Montenegro, privileged producers last year earned EUR 42.43 million for electricity produced from renewable energy sources

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Privileged producers last year earned EUR 42.43 million for electricity produced from renewable energy sources (RES), of which EUR 5.46 million was related to incentives, i.e. subsidies.

The rest of EUR 37.11 million represented the market price of the produced electricity, according to the data of the Montenegrin Electricity Market Operator (COTEE) submitted to the Mina-business agency.

The companies Krnovo Green Energy generated the most revenue, EUR 17.84 million, Možura Wind Park EUR 11.66 million, and Hidroenergija Montenegro EUR 3.38 million. Their incentives amounted to EUR 2.8 million, EUR 1.34 million and EUR 271.67 thousand.

All electricity produced by privileged investors is purchased by COTEE at subsidized prices.

According to COTEE data, privileged producers produced a total of 436.6 million kilowatt hours (kWh) of electricity in 11 months of last year.

Wind power plants (WE) Krnovo and Možura produced the most, 176.89 million kWh and 121.43 million kWh, respectively.

According to COTEE data, from 2014 to the end of last year, privileged producers earned a total of EUR 188.65 million, of which EUR 79.37 million was related to incentives.

Privileged producers are VE Krnovo and Možura, small hydropower plants (MHP), as well as solar power plants, local media says.