The renewable energy investor Alcazar Energy announced its acquisition of rights to a 118 MW wind farm project in Montenegro.
The company is entering into a partnership with Simes Inženjering and Sistem MNE, who were the original greenfield developers of the project. This project will be built at a cost of approximately USD 200 million, becoming one of the largest wind farms in the Western Balkans and doubling Montenegro’s installed wind capacity. The construction of the project is expected to begin in early 2025 and will create over 800 construction jobs.
“We are excited to announce our new partnership with Alcazar Energy to complete the development of Bijela and bring it to construction and operation. This collaboration combines the vision and experience of Simes Inženjering and Sistem MNE in developing various complex projects in Montenegro with Alcazar Energy’s expertise in catalysing early vintage renewable energy projects in emerging countries, bringing foreign direct investment, project finance as well as industrial and technical prowess. We warmly welcome Alcazar Energy to the region. Their ability to bring in international lenders for this USD 200 million investment will help us deliver on the immense promise of this project, notably for the budding green energy sector in Montenegro. We look forward to working together on its construction from 2025,” said Slaven Milic, Founder of Simes Inženjering.
