EPCG Expands Generation and Storage Portfolio with 639 MW of New Projects

Montenegro’s state-owned utility Elektroprivreda Crne Gore (EPCG) is advancing a broad portfolio of solar, wind, battery storage, and hydropower projects with a combined capacity of 639 MW, and an expected annual electricity output of more than 1 TWh, according to Milutin Đukanović, President of EPCG’s Board of Directors.

In an opinion piece, Đukanović said the company has already completed part of a major investment cycle, including rooftop solar projects, the Gvozd 1 wind farm, the ecological reconstruction of the Pljevlja thermal power plant, and part of the modernization works at the Piva and Perućica hydropower plants. He added that new generation capacities, battery storage systems, hydropower upgrades, rooftop solar, wind projects, and strategic partnerships are EPCG’s response to the operational and market challenges it faced in 2025.

EPCG’s direct project pipeline amounts to around 639 MW/MWp, with estimated investments of approximately EUR 646.5 million and an expected annual output of about 1,024 GWh. Đukanović noted that the investment framework also includes reconstruction and upgrade projects that cannot always be expressed in megawatts.

When strategic and potential private partners are included, the company’s total portfolio rises above 4,636 MW/MWp, with a potential annual electricity generation of more than 8,176 GWh. Đukanović said EPCG is positioning itself for a larger role in Montenegro’s energy transition and in the broader regional power market.

The portfolio includes EPCG-owned solar power plants with a combined capacity of 221.1 MW and projected annual production of 299 GWh, rooftop solar systems for prosumers totaling 209.1 MW and 245 GWh in annual generation, the Gvozd 1 and Gvozd 2 wind farms with a combined capacity of 75.6 MW and expected output of 227 GWh, hydropower projects totaling 71.7 MW and 135 GWh annually, and battery energy storage facilities with an operating power of 60 MW.

A battery energy storage system is also planned at EPCG’s steel plant Željezara Nikšić. The project is estimated at around EUR 48 million and is designed as a 60 MW / 240 MWh system, with an expected annual electricity output of about 118.3 GWh, Đukanović said.

Among the completed investments, EPCG has already added 143.66 MW of new generation capacity, corresponding to around 268 GWh of annual electricity production. The value of these completed projects stands at approximately EUR 258.87 million.

These include rooftop solar systems installed under the Solari 3000+ and Solari 500+ programs, with a total peak capacity of 34.34 MW and expected annual generation of 40.18 GWh, as well as the completed portion of the Solari 5000+ project, which has a total peak capacity of 54.72 MW and expected annual output of 64.02 GWh. A further 20 MW of rooftop solar remains to be installed under the same program.

The 54.6 MW Gvozd 1 wind farm has also been completed, with an investment of EUR 82 million and projected annual output of 163.8 GWh. Together with the second phase, Gvozd 2, the project will raise total wind capacity by about 75.6 MW.

Additional completed investments include the ecological reconstruction of the Pljevlja thermal power plant, valued at EUR 75 million, along with the second phase of reconstruction and modernization works at the Piva hydropower plant, worth EUR 10.83 million, and the second phase at the Perućica hydropower plant, worth EUR 33 million.

Đukanović also noted that the Pljevlja coal mine carried out the diversion of the Ćehotina River during the power plant reconstruction, in a project worth EUR 20 million. The intervention was necessary to secure continued coal mining operations, as available reserves were close to exhaustion.

He said the main reasons for EPCG’s EUR 92.1 million loss in 2025 were the eight-month outage at the Pljevlja thermal power plant due to ecological reconstruction, as well as unfavorable hydrological conditions.

According to Đukanović, once production at Pljevlja resumed, EPCG’s energy balance returned to positive territory. The company then posted a profit of EUR 36.47 million in the first quarter of this year.

February 5, 2026

by AEA in News

GEN-I to optimize operation of R.Power’s battery system in Romania

GEN-I and R.Power have signed a long-term optimisation agreement for the Scornicesti battery energy storage system (BESS), one of Romania’s largest utility-scale storage projects currently under development. The project is planned with an installed capacity of 127 MW and an energy storage capacity of 254 MWh.

Under the deal, GEN-I will serve as the exclusive commercial optimiser and trading partner for the Scornicesti BESS, covering the period from the start of commercial operations through to the fifth anniversary of full revenue activation. GEN-I will oversee the asset’s commercial optimisation across wholesale electricity markets and ancillary service mechanisms, including market optimisation, revenue management and real-time dispatching, supported by 24/7 algorithmic trading operations.

Igor Koprivnikar, Ph.D., MBA, Member of the Management Board of GEN-I, and
Rafał Hajduk, Chief Commercial Officer at R.Power.

The partnership is structured around a long-term revenue-sharing model, aligning the interests of R.Power as the asset owner and GEN-I as the optimisation partner. Alongside performance-based revenue sharing, GEN-I will also provide a minimum revenue guarantee, intended to deliver more predictable cash flows for the project while supporting the long-term market value of the battery asset.

“This agreement represents another important step in the expansion of GEN-I’s battery storage optimisation portfolio in Central and South-Eastern Europe,” said Igor Koprivnikar, Ph.D., MBA, a member of GEN-I’s Management Board. He added that Romania is undergoing a power-market transformation, with growing renewable capacity and an increasing role for flexibility and storage solutions in maintaining system balance. According to Koprivnikar, GEN-I aims to translate market complexity into value for asset owners by combining regional market knowledge, real-time trading capabilities and long-term optimisation expertise.

The Scornicesti project is co-owned by R.Power and its joint venture partner Eiffel Investment Group, following Eiffel’s acquisition of a 49.9% equity stake in October 2025. The optimisation agreement marks a key milestone in establishing the project’s long-term commercial strategy ahead of market entry.

GEN-I said the agreement strengthens its position as an independent optimiser for utility-scale battery energy storage systems in Central and South-Eastern Europe. The company added that by supporting efficient market participation, system services provision and dynamic revenue optimisation, it helps investors and developers unlock the value of flexibility assets while contributing to power system stability and the integration of renewable energy.

About GEN-I

Founded in 2004, GEN-I is an energy market participant active across 27 markets in Europe. The company was recognised as Best Energy and Power Dealer in Europe in the Energy Risk Commodity Rankings 2025. GEN-I operates in wholesale energy trading and provides services linked to the green transition, including renewable portfolio management, ancillary services and battery energy storage optimisation. It said its optimisation models, 24/7 trading operations and integrated risk and operational processes support its goal of becoming a leading asset optimiser in Central and South-Eastern Europe.

About R.Power

R.Power is an independent power producer active in renewable energy across multiple European markets, with operations spanning origination and development through to commercialisation and long-term operation. Founded in 2010 and headquartered in Warsaw, the company has 1.4 GW of projects operational or under construction. Its growth strategy includes a pipeline of grid-secured battery energy storage projects, both standalone and hybrid with solar PV. R.Power said it has more than 10 GW of grid-secured, utility-scale BESS, hybrid and renewable generation projects across markets including Poland, Romania, Germany, Italy, Portugal and Spain.

R.Power’s long-term equity investment partners include the European Bank for Reconstruction and Development and the Three Seas Initiative Investment Fund (3SIIF), advised by Amber Infrastructure, while its debt finance partners have included BNP Paribas and ING.