The grant funding will finance the provision of consultancy services to support EPCG's modernisation and transformation focused on green energy projects, the Montenegrin company said in a statement on Friday when the agreement was signed.
The grant is based on an agreement signed by KfW and the European Commission in November that envisages promoting green transformation in the Western Balkans and Eastern European Neighborhood regions.
EPCG has been partnering with KfW for ten years now. Last year, the German lender extended a 40 million euro loan to EPCG to finance the installation of an eighth turbine at the Perucica hydropower plant (HPP).
In October, EPCG executive director, Ivan Bulatovic, said the company plans to invest almost 300 million euro over the next three years, with a focus on renewable energy. Bulatovic announced in March that EPCG will connect to the grid some 200 MW of new solar energy capacities in the coming three years.
(SeeNews, June 16, 2025)