EBRD Backs Modernization of Montenegro Power Grid

The European Bank for Reconstruction and Development will invest euro35 million (USD46.3 million) in an electricity company in Montenegro in a bid to help modernize the country’s power distribution network.

The Elektroprivreda Crne Gore AD Niksic, or EPCG, is the only electricity generation, supply, and distribution company in Montenegro and is primarily owned by the government. The EBRD loan will help the company purchase and install some 175,000 modern electricity meters as well as install associated infrastructure. This initiative is expected to improve EPCG’s cash flow and operational efficiently and kick-start its transition into a modern smart power grid.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.