Montenegro to invest in renewable energy

Montenegro's government plans to cancel the EUR 54 million euro project for the reconstruction of Pljevlja coal-fired thermal power plant, signed with a consortium led by China's Dongfang Electric and instead use the financing to invest in renewable energy projects.

"In cooperation with our European partners, we will define a strategy that would, for a limited time, extend the operation of TPP Pljevlja under the current regime and in the meantime invest the funds planned for ecological reconstruction in green energy projects," said the country's capital investments ministry.

"The consortium informed us that the planned amount of EUR 54 million will not be enough for a complete environmental reconstruction to meet the environmental standards set by the European Energy Community," the ministry added.