Krnovo Wind Farm
Sector: Wind • Location: Montenegro
Source: World Bank Group
Krnovo Wind Farm is a 72MW facility located 28km northeast of Niksic run by Krnovo Green Energy d.o.o.
Krnovo Green Energy d.o.o. is an SPV owned by Akuo Energy (50%) and Ivicom (50%).
Krnovo Green Energy d.o.o. won tender from the Montenegrin electricity market operator, COTEE to develope the project in 2010. COTEE will offtake all electricity under a 12yr PPA.
Krnovo Green Energy d.o.o. reach
- Status
- Prospective
- Sector
- Wind, Raw Materials, Power Generation (CCGT), Government, Commercial
- Location
- Montenegro
- Updated
- 22 Jul 2026
- Source
- World Bank Group
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Project Information
Participants
Sponsoring Agency | |
Company |
Status
Original status | Active |
Taiyo status | Prospective |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | Krnovo Wind Farm is a 72MW facility located 28km northeast of Niksic run by Krnovo Green Energy d.o.o. Krnovo Green Energy d.o.o. is an SPV owned by Akuo Energy (50%) and Ivicom (50%). Krnovo Green Energy d.o.o. won tender from the Montenegrin electricity market operator, COTEE to develope the project in 2010. COTEE will offtake all electricity under a 12yr PPA. Krnovo Green Energy d.o.o. reached financial closure in July 2015. Of the projected 154.6m USD cost 46.4m USD is to be covered by equity and 108.2 is to be debt financed. Equity is provided by Akuro Energy (23.2m USD) and Ivicom (23.2m USD). Debt financing will be provided by the European Bank for Reconstruction and Development (54.1m USD) and KFW (54.1m USD). Krnovo Wind Farm is expected to be operational in early 2016. https://ijglobal.com/data/transaction/33058/krnovo-wind-farm-72mw http://krnovo-ge.com/the-project/ http://www.ebrd.com/news/2015/ebrd-brings-wind-power-to-montenegro.html http://www.ebrd.com/work-with-us/projects/psd/krnovo-wind-farm.html http://www.akuoenergy.com/en/what-we-do/wind/krnovo.html http://www.ivicom-holding.com/ |
Original sector | Energy |
Budget |
Location
Country | Montenegro |
Source
Source | World Bank Group |
URL |
More Details
Record type | Project |
Sector | Wind, Raw Materials, Power Generation (CCGT), Government, Commercial |
Article published date | 2024-09-20 |
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