Construction of the wind farmGvozdon the Krnovo plateau near Nikšić is entering its final stretch. The construction companyBemaxhas completed the pouring of the foundation for one of the last turbines — wind generator 7/8. The project, worth82 million euros, has become one of the largest investments in Montenegro’s renewable energy sector in recent years.
Energy by the end of 2025
According to EPCG CEO Ivan Bulatović, the wind farm could be connected to the power grid by the end of 2025. This will make it possible to begin generating green energy from installations that will produce around150 GWh of electricity per year— enough to supply more than25,000 households.
The projectincludesthe installation ofeight wind turbineswith a total capacity of54.6 MW. This is an important step toward the country’s energy transition and reducing carbon emissions.
Financing from the EBRD and full EPCG ownership
TheGvozdwind farm became the first renewable energy project that EPCG is developing entirely on its own, without foreign investors. Financing was secured through a loan from the European Bank for Reconstruction and Development (EBRD), signed in December 2021. The total investment amounts to82 million euros.
This is a strategic step toward diversifying the country’s energy resources and strengthening its energy independence.
Who is Bemax and what else is the company working on?
Bemaxis one of the most active construction companies in Montenegro, based in Podgorica. It is known for a wide range of projects in road infrastructure, residential construction, and energy. The company has been operating for more than two decades and regularly wins major tenders in both the public and private sectors.