Wind power plant Krnovo, Montenegro – 72 MW
IVICOM Holding fully developed the Krnovo wind power project, one of Montenegro’s largest renewable energy initiatives. The development began in 2009, and in 2010 IVICOM, in consortium with Mitsubishi Heavy Industries, successfully won the tender issued by the Government of Montenegro.
Financing for the project was provided by EBRD and KfW/IPEX, while IVICOM remained actively involved as Owner’s Engineer throughout the project’s development and commissioning. The wind power plant was sold in 2015 and officially commissioned in 2017, delivering clean and sustainable energy to the region.
Projects overview
The Krnovo wind power project was comprehensively developed by IVICOM Holding, covering all stages from initial planning to final commissioning. The tender was successfully won in partnership with Mitsubishi Heavy Industries. Later on, SPV was acquired in several stages by Akuo Energy. IVICOM provided continuous oversight as Owner’s Engineer to ensure quality and compliance throughout the project. Financing was secured from major international institutions, including EBRD and KfW/IPEX, and the project was successfully commissioned and became fully operational in 2017.
Key Achievements:
- Streamlined project execution with minimal risk and maximum efficiency
- Advanced engineering solutions implemented throughout the project lifecycle
- Enhanced regional renewable energy capacity with a total output of 72 MW
Final result
The Krnovo wind power plant was successfully commissioned in 2017, delivering 72 MW of clean, renewable energy to Montenegro. The project enhanced the country’s energy capacity, contributed to sustainable development, and demonstrated IVICOM Holding’s expertise in managing complex, large-scale renewable energy projects from concept to completion.
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