Alcazar Energy completes acquisition of rights to Montenegro wind 118MW farm

Alcazar Energy, a leading investor in renewable energy within emerging markets, has announced its acquisition of rights to a 118 MW wind farm project in Montenegro. This marks a significant milestone in its strategy to establish the largest renewable energy platform in the Western Balkans.

Alcazar Energy is partnering with Simes Inženjering and Sistem MNE, the original developers of the project. The project is expected to cost approximately US$200 million, making it one of the largest wind farms in the Western Balkans and doubling Montenegro’s wind energy capacity. Financial closure is anticipated in 2025, with construction commencing in early 2025.

The Bijela project is a key component of the government’s 2040 national development strategy, viewed as a major economic investment for Montenegro and a significant step toward reducing the country’s greenhouse gas emissions. The project is projected to create over 800 construction jobs and, once operational, generate enough clean energy to power more than 20,700 households annually, while also preventing the release of over 260,000 tons of carbon dioxide equivalent per year.

Numerous prominent development institutions and commercial banks have expressed interest in partnering with Alcazar Energy to finance the project. Leading wind turbine manufacturers and international and local construction companies have also shown keen interest. The acquisition of the Bijela project represents the first step in Alcazar Energy’s strategy to create the region’s most extensive renewable energy platform, with an estimated total project investment in the region of US$600 million.

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