Proparco’s loan will contribute to financing the construction and operation of a 72 MW wind farm. This farm will be located on a mountain plateau 50 km to the northwest of Montenegro’s capital. It will provide electricity to some 30,000 people, representing 5% of the total population of Montenegro.
The financing of technical assistance will support Akuo in the implementation of an environmental and social (E&S) risk management approach, with the prospect of growth in the organization. The project aims to make an external consultant available to (i) optimize its environmental and social management system, and (ii) help build the E&S expertise of its teams.
This first wind project will contribute to reducing Montenegro’s energy deficit. It will also contribute to promoting renewable energies in the country’s energy mix. It will have a positive impact on the climate by avoiding 85,000 teq C02 of greenhouse gas emissions every year.
The technical assistance will strengthen the positive impact of PROPARCO’s financing by improving and bringing up to standard the current E&S systems compared to the performance standards recommended by IFC.
on the same region