European bank signs funding for Montenegro power reconstruction

The European Investment Bank (EIB) has approved 2.9 million euros (US$3.9 million) for power sector reconstruction in Montenegro.

The funding, signed by EIB officials September 30, is part of 70 million euros (US$95.5 million) originally advanced by EIB in 2002 for then-Yugoslavia — the combined Serbia and Montenegro. The Serbian portion of 67 million euros (US$91.4 million) was signed in 2002.

The Montenegro portion of the package included replacement of electro-mechanical equipment in two main hydropower plants and of high voltage equipment at the main transmission substations at various locations.

Most recently, Montenegro utility Elektroprivreda Crne Gore AD-Niksic called for bids to supply a trashrack and trashrack cleaning machine as part of refurbishment of the 307-MW Perucica hydroelectric project on the Gornja Zeta River. (HNN 9/25/08) Prior to that, Elektroprivreda Crne Gore recruited technical assistance for rehabilitation and modernization of the 342-MW Piva hydroelectric project. (HNN 11/27/06)

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