SARAJEVO, Dec 28 (Reuters) - Montenegro’s power utility EPCG has ended a deal with Skoda Praha, a unit of Czech power firm CEZ, for the construction of a new coal-fired power plant due to Skoda Praha’s failure to secure funding, EPCG said on Thursday.
Skoda Praha signed a deal last year with EPCG to add a new 254 megawatt (MW) unit at the Pljevlja power plant in Montenegro at an estimated cost of 324.5 million euros ($387 million).
“We have been waiting for Skoda Praha to secure the project funding for more than a year. As there was no solution we have informed it that we are terminating the cooperation,” EPCG spokesman told Reuters.
Reporting by Maja Zuvela in Sarajevo; Editing by Elaine Hardcastle