French developer Qair is preparing the 64.8 MW Momče wind farm near Podgorica, comprising nine turbines on approximately 52 hectares. It forms part of a Montenegro portfolio estimated at about 220 MW, including both wind and solar projects targeted from 2028 onwards.
A project of Momče’s size could require approximately €90mn–€120mn of capital, assuming installed wind costs of €1.4mn–€1.85mn per MW and no exceptional transmission works. At a capacity factor of 30–37 per cent, annual output could reach 170–210 GWh.
Wind has a different financial and system profile from the EPCG solar portfolio. It produces more electricity during evening, winter and weather-driven scarcity periods and is less exposed to the solar price collapse around noon. Turbine CAPEX and maintenance costs are higher, while construction and permitting risk increase because of roads, foundations, transport routes, aviation constraints and environmental sensitivities.
The principal bankability issue is grid access. Wind output may face local congestion during strong regional weather systems, but it is less perfectly correlated with the expanding Balkan solar fleet. A diversified Montenegro portfolio combining hydropower, wind, solar, batteries and pumped storage should therefore achieve higher realised revenue than an equivalent amount of solar capacity developed in isolation.
