Elektroprivreda Crne Gore undergoes intensive investment cycle

Milutin Đukanović, Chairman of the Board of Directors of Elektroprivreda Crne Gore (EPCG), stated that the company is undergoing one of its most intensive investment cycles to increase domestic production and reduce reliance on electricity imports.

Addressing recent public criticism, Đukanović explained that while the company reported a loss of 92.12 million euros in 2025 due to production drops at TE Pljevlja, HE Piva, and HE Perućica—necessitating 101.7 million euros in import costs—the company's cumulative financial result from 2021 to 2025 remains positive at 22.34 million euros. He emphasized that capital has not disappeared but has been converted into long-term value, noting that fixed assets increased by 242 million euros between 2020 and 2025.

New production capacities are currently generating approximately 330 GWh of electricity annually. Solar projects have produced over 203 GWh for more than 10,000 users, and the Gvozd I wind farm is in trial operation. Future developments include the Gvozd 2 wind project, the installation of the A8 aggregate at Perućica, and strategic partnerships through the Masdar platform to reach a potential of two gigawatts.