Investiciono razvojni fond (IRF) – the Investment and Development Fund of Montenegro (IDF MN) – and the United Nations Development Programme (UNDP) have launched a financing support program to help farmers and small and medium enterprises deploy rooftop PV solutions.
The two entities will award loans ranging from €3,000 to a maximum of €400,000, at an interest rate of 3% per year, with a repayment period of up to 10 years.
The program also includes non-refundable rebates in the amount of up to €25,000 that will help entrepreneurs buy and install PV systems. The rebates are being awarded via a tender held by the Eco Fund, which is a government agency promoting development in the field of environmental protection.
Montenegro's power utility, Elektroprivreda Crne Gore (EPCG), and the country's Ministry of Ecology, Spatial Planning and Urbanism, kicked off a net metering program for rooftop PV in mid-July.
The EPCG is also building a 100 MW solar park in partnership with Finnish utility Fortum, and a floating PV power plant on the Slano artificial salt lake.
According to the International Renewable Energy Agency, the country had installed solar power of just 6 MW at the end of 2020. The vast majority of Montenegro’s electrical power demand is currently met by the 225 MW Pljevlja thermal power plant in the north of Montenegro and two large hydropower plants, at Perućica (307 MW) and Piva (363 MW).
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.