Construction of unit 2 at TPP Pljevlja to start in September – Montenegro, 12 July 2016

Montenegrin Deputy Prime Minister Vujica Lazovic said that the Government has approved the agreement with the Italian company A2A on the management of power utility EPCG.
The new agreement provides several new articles, both the Government and A2A have waived their right for arbitration and A2A has an exit option, namely if the company does not support the project for the construction of second unit at TPP Pljevlja it could withdrew from EPCG and sell its stake to the Government. Deputy PM Lazovic stressed that through negotiations the Government succeeded to lower the purchase price of A2A’s stake from initial 500 million to 250 million euros, which could be paid in seven annual installments.

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