Montenegrin Deputy Prime Minister Vujica Lazovic issued a decision on declassification of information on the result of negotiations between the State of Montenegro and Italian company A2A regarding the power utility EPCG. New agreement includes several items: both Montenegro and Italy have waived the arbitration rights, EPCG will issue a guarantee for TPP Pljevlja and A2A will have an exit option, where the state has to purchase its stake in EPCG.
According to the declassified information, in the event of circumstances affects the implementation of the new agreement, namely the obstruction of the process of decision-making regarding the implementation of the project for the construction of second unit at TPP Pljevlja by 31 December 2016, the value of an exit option by which the Government takes over A2A’s stake in EPCG is 250 million euros in seven annual installments.
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Tags: A2A, agreement, electricity, EPCG, Italy, Montenegro