Montenegro commissions Gvozd wind farm, expanding renewables with EBRD-backed financing

Montenegro has officially commissioned the Gvozd wind farm, a milestone that signals a step-change in the country’s renewable energy expansion and broader energy transition. With operations now starting at one of the country’s most significant modern power investments, the project is positioned as both a clean-energy boost and a test of how new generation can be integrated under market-based rules.

Largest wind plant near Nikšić

Located near Nikšić, the facility is now Montenegro’s largest wind power plant. The project is expected to produce around 150 GWh of electricity each year, which would be sufficient to supply approximately 25,000 households. Officials said this scale of output is intended to strengthen domestic clean energy production while contributing to lower harmful emissions.

€82 million investment backed by EBRD

The development required an investment of €82 million and was financed through a loan provided by the European Bank for Reconstruction and Development (EBRD). Construction was carried out by German turbine manufacturer Nordex, which delivered and installed the project infrastructure.

Market-based operation under EPCG

Prime Minister Milojko Spajić said the wind farm will operate fully under market-based principles through the state-owned utility EPCG. He emphasized that electricity consumers will not bear additional subsidy costs associated with the project. Spajić also described energy sector investments as a central pillar of Montenegro’s development strategy.

A turning point for Montenegro’s renewable strategy

Minister of Energy and Mining Admir Šahmanović characterized commissioning as more than the start-up of a single asset, calling it a turning point in Montenegro’s energy transition. He said the Gvozd project represents Montenegro’s first major state-backed renewable energy investment and reflects a longer-term approach focused on cleaner generation, improved energy stability, and strengthening the domestic power sector.