Representatives of UGTR Renewables and Hyundai met on Monday with representatives of the Electric Power Company of Montenegro (EPCG), continuing the dialogue that began in 2023 with the aim of optimally utilizing available resources and technologies that will contribute to decarbonization and increasing the stability of the energy sector.
In addition to the President of the Board of Directors of EPCG, Milutin Đukanović, and the Executive Director, Ivan Bulatović, the meeting was also attended by Deputy Prime Minister Nik Đeljošaj and Minister of Finance Novica Vuković.
EPCG announced that the meeting took place in a constructive atmosphere, with a clear conclusion that there is a strong will for further joint steps towards a green energy transition.
EPCG has been developing partnership relations with the aforementioned companies since 2022, when the Memorandum of Cooperation was signed.
"Yesterday's meeting is a continuation of the dialogue initiated in 2023 with the aim of optimally utilizing available resources and technologies that will contribute to the decarbonization and increase of the energy stability of EPCG and the Montenegrin energy sector as a whole," the statement said.
The next steps, as stated by EPCG, will be focused on concretizing previously agreed projects, with maximum use of available resources and technologies that contribute to decarbonization and increased energy security.
Đukanović emphasized that this dialogue confirms the commitment of all parties to a sustainable future and strengthening the energy independence of Montenegro.
"The importance of international partnerships in this process is unquestionable, and EPCG, UGTR Renewables and Hyundai recognize Montenegro as an attractive destination for investments in clean energy," said Đukanović, expressing satisfaction with the Government's support, which is of exceptional importance.
EPCG said that the meeting also discussed the possibilities of investing in solar and wind power plant projects, improving the electricity grid, as well as developing new energy storage models, which would further strengthen the Montenegrin energy system.
Đukanović and Bulatović informed their interlocutors about EPCG's serious plans to build battery systems for energy storage and pointed out that the first phase of procurement, which includes battery systems with a capacity of 2x30MWh, is underway.
Company representatives reiterated their willingness to work together to accelerate the implementation of planned initiatives, using innovative solutions and best global practices.
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