Sekulić: It is necessary to have a special sensibility when it comes to foreign investors

Montenegro is determined not only to meet its national goal of 33 percent of final energy consumption from renewable sources, but also to build its further energy development on the basis of using renewable energy sources with market principles, announced the Minister of Economy, Dragica Sekulić.

Today, she participated in the panel "Sustainable Energy Model of the Region" organized as part of the Investment Summit of the Western Balkans, which is organized by the European Bank for Reconstruction and Development (EBRD) and is held in London.

Sekulić pointed out that Montenegro has repeatedly shown readiness and determination in providing support to foreign investors who want to invest in Montenegrin energy.

According to her, the most recent example is the more than successful cooperation with the French company "Akuo Energy" on the VE Krnovo project.

Sekulić stated that this project, despite all the challenges that every new approach brings at the beginning, is an example of successful cooperation between the Government of Montenegro and the private sector.

"In order to realize large and successful projects, it is necessary to understand from both sides and to find common solutions", assessed Sekulić, the Ministry announced.

She pointed out that the satisfaction of an investor who successfully implements a project is the best promotion of the investment climate in a country.

That is why, as she said, it is necessary to have a special sensibility when it comes to foreign investors.

Sekulić added that Montenegro is working intensively on strengthening cooperation with its neighbors and integration into the European energy market.

She reminded that the origin of the European Union as we know it today comes from energy cooperation.

Sekulić emphasized that Montenegro, contributing to the construction of the Trans-Balkan Corridor, along with the realization of the submarine energy cable to Italy and the Ionian-Adriatic gas pipeline (IAP), shows its determination to develop as an energy hub.

"But not with the aim of being different, but to be a good example of cooperation and connection. We will have the first results by the end of this year, when we expect the start of trial operation of the largest power connection in the region ever - the submarine cable," said Sekulić.

She recalled that according to the latest data from the Energy Community from November last year, Montenegro had the best result of the overall implementation of soft measures (regional electricity market, establishment of a wholesale organized market, cross-border balancing and regional capacity allocation between ZB6 countries).

"Thus, we clearly demonstrated our willingness to apply EU standards and continue activities aimed at strengthening regional cooperation," Sekulić said.

All the countries of the Western Balkans, as she assessed, strive for the integration of the regional market and so far positive results have been achieved in this regard, which must be accompanied by an adequate legal framework.

Answering the question of what is the future of the use of coal, Sekulić said that a responsible approach to the use of this resource implies the option of using it together with other, cleaner fuels, such as biomass.

"Parallel with the ecological reconstruction of the thermal power plant in Pljevlje, Montenegro is seriously considering all sustainable solutions in this area," said Sekulić.

Apart from Sekulić, the Vice President of the Macedonian Government Kocho Angjushev, Executive Director of Akuo Energy, Eric Skoto, Director of the Secretariat of the Energy Community Janez Kopač and Director of the Trans Adriatic Pipeline Luca Skiepati participated in the panel.

The Montenegrin delegation to the Summit in London is led by the Prime Minister Duško Marković, and the delegation includes, in addition to Mr. Sekulić, the Minister of Finance Darko Radunović.