Montenegro has recently made significant progress in the development of solar energy and the transition towards a sustainable energy mix, it was assessed at the two-day Energy Week Western Balkans conference in Budva.
Minister of Energy Admir Šahmanović spoke at a conference with domestic and international investors about opportunities, challenges and future projects in the energy sector.
"New legal solutions, through laws on energy and the use of energy from renewable sources, give citizens and businesses more rights and opportunities to become active carriers of the green transition. The concepts of active customers, energy communities, as well as opportunities for energy storage and aggregation, open up new perspectives for the development of the sector," said Šahmanović.
The first auction for the award of market premiums for solar power plants represents an important step forward for the Montenegrin energy sector, and the total capacity envisaged in this round is 250 megawatts (MW). In this way, as announced, a realistic basis is created to install more than 400 MW of new solar capacity in the next three years, which is almost six times more than was installed in the previous decade.
Preliminary data show strong interest from international investors and domestic companies, confirming that Montenegro has become an attractive destination for investments in renewable energy sources. The Ministry of Energy and the Government have launched intensive activities to mobilize strategic partners, including G2G arrangements and memoranda of understanding, which will bring hundreds of millions of new investments to Montenegro.
"This is the beginning of a new chapter in Montenegrin energy. Our goal is not just more megawatts, but a stable and sustainable energy system, the development of domestic industry, new jobs and less dependence on imports. Montenegro is recognized in the business community as a country with enormous potential in hydro, solar and wind energy. Along with tourism, energy can become a pillar of the development of our economy and we are actively working to realize this potential," added Šahmanović.
He also referred to the talks with representatives of the Italian company Terna, with the aim of further developing the project of the second strand of the submarine cable between Montenegro and Italy. An MOU related to market coupling with Italy will be signed in Rome at the end of October.
"All these activities position Montenegro as a reliable partner of the EU and as an energy bridge between the Western Balkans and the EU," said Šahmanović.
During the conference, Šahmanović also emphasized the importance of a just transition, especially for the north of Montenegro and Pljevlja, where the thermal energy sector is of strategic importance.
"The transition must be gradual, responsible and aligned with the interests of the local community. The Just Transition Council monitors all activities in the area of economic diversification, worker protection and new investments in clean energy," said Šahmanović.
The two-day Energy Week Western Balkans conference confirmed that Montenegro is not only following regional and European trends, but is also actively creating opportunities for the development of a sustainable and secure energy future, where the energy sector, in synergy with tourism, is becoming a key pillar of economic development and a strategic partner of the EU.
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