The owners of wind power plants, mini-hydropower plants and solar power plants earned EUR 42.5 million last year

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The owners of wind power plants (VE), mini-hydropower plants (mHE) and solar power plants (SE) earned EUR 42.5 million last year, and they received EUR 5.46 million through incentives paid by citizens and the economy, while the market value electricity they produced and sold was EUR 37.1 million, according to data from the Montenegrin Electricity Market Operator (COTEE).

In 2021, they earned EUR 46.3 million from electricity production, of which EUR 21.8 million was related to incentives, while the market value was EUR 24.5 million. Incentives are paid through the electricity bill – items OIE1 and OIE2.

– An increase in the market price of electricity leads to a decrease in the part related to the incentive and vice versa. In 2022, there were no payments for privileged producers – they told Dan from COTEE.

Privileged producers, of which there are a total of 26, and who manage 39 power facilities, have been receiving incentives from citizens and businesses through electricity bills – items OIE1 and OIE2 since 2014. As soon as they acquire a privileged status, they are guaranteed the purchase of every produced kilowatt-hour of electricity at an incentive price.

The Krnovo wind power plant earned the most money from the generated electricity last year. Last year, the owners of the Krnovo Green Energy wind farm earned EUR 17.8 million, of which EUR 2.8 million was related to incentives, and EUR 15 million to the market value of electricity. The founders of that company are Akuo Energy from France and Masdar Energy from the United Arab Emirates.

The owners of wind power plants on Možura last year earned 11.66 million EUR, of which 1.33 million was through incentives, and 10.3 million was the market value of the electricity they produced and sold. By the way, the project on Možura is under the scrutiny of Europol. The owners of Možura wind park are Enemalta and Malta Montenegro wind power JV limited.

Hidroenergija Montenegro, which manages eight MHPs, received the most money from mini-hydropower plants. They earned EUR 3.38 million last year, of which EUR 271.6 thousand was related to incentives. According to CRPS data, the owner of 60% of the capital of that company is Ranko Radović, while 40% is owned by the company Hemera, which is managed by Oleg Obradović. Radović took over 60% of Hidroenergija’s capital a few years ago from Aleksandar Mijajlović and Ranko Ubović.

Last year, the company Kronor earned 1.74 million euros, of which only 32.9 thousand euros were related to incentives. The majority owner of Kronor is Željko Mišković’s company Kroling, while Mont hidro and Gama hold 10% each.

Small hydro power Mojanska earned 1.6 million, of which 210.9 thousand refers to incentives. Popović elektro sistem, TM energy and Igma energy each have a 33.33% stake in this company. MHE Vrbnica, whose owners are from Slovenia, earned 1.04 million and all the money was paid to them through the market price, because their incentive price was lower than the market price. The same was the case with the company Benergo, which earned 144,000 euros.

Hidrobistrica earned EUR 930.7 thousand, and Small hydro power plant Kutska EUR 673.8 thousand. The majority owner of the Small hydro power plant Kutska is Green Solutions, whose owners are Popović Elektro Sistem, TM Energy and Igma Energy. Last year, Igma Energy, whose owner is Igor Mašović, earned EUR 630,000, of which EUR 146,000 came from incentives. Mašović is the brother of the former president of the municipality of Andrijevic, Srđan Mašović. Other privileged producers had revenues of less than half a million euros.

The system of incentives and guaranteed purchase was designed and introduced by the previous governments, referring to the experience of the European Union, which long ago switched to a different model of granting concessions for MHP and VE, that is, it gives the concession to the bidder who requests the least amount of money for the MHP or VE construction project.

Blažo earned 224.4 thousand euros

Among the privileged producers is the BB hydro company, which is co-owned by Blažo Đukanović, the son of the president of the state and DPS, Milo Đukanović.

Last year, BB Hydro earned 224,400 from electricity production, of which 45,400 was related to incentives. Zeta energy earned 447.4 thousand, Hidroenergija Andrijevica 379,000, and Nord energy 298.3 thousand. Synerdži, in which one of the owners is Vuk Rajković, Milo Đukanović’s godfather, generated 213.5 thousand, of which 50,000 EUR are related to incentives.

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