The Krnovo wind farm is Masdar’s first investment in Montenegro’s renewable energy sector.
The 72-megawatt (MW) onshore wind farm is Montenegro’s first wind farm and one of the largest in the region. In December 2018, Masdar executed a Sales and Purchase Agreement for its acquisition of 49 per cent of Krnovo Green Energy, the owner and developer of the Krnovo Wind Farm, which was established as a subsidiary of Akuo Energy.
The Krnovo Wind Farm comprises 26 GE wind turbines, which are set at an altitude of about 1,500 metres, where the average wind speed varies between 5.5 and 6.5 metres per second.
On stream since November 2017, the Krnovo wind farm is now supplying approximately 45,000 households with electricity and displacing an estimated 80,000 tonnes of carbon emissions annually. It is estimated to produce 200 gigawatts (GW) of electricity annually.
The electricity generated by the Krnovo project is expected to help Montenegro achieve its renewable energy target of generating one-third of the country’s total energy consumption from renewable energy sources by 2020. The Krnovo wind farm brings Masdar’s presence in the Balkans’ renewable energy sector to over 200MW.