The renowned company Masdar has confirmed that it is strongly interested in a strategic partnership with Montenegro in the field of energy, and in the coming period, work will be done to further concretize cooperation, the Ministry of Energy and Mining announced.
The Minister of Energy and Mining of Montenegro, Admir Šahmanović, and the Minister of Public Works, Majda Adžović, met today at Villa Gorica with the CEO of Masdar, Mohamed Jameel Al Ramahi, and his team, to continue discussions on the concretization of cooperation and projects that are top priorities of the Government of Montenegro, and which could be a subject of mutual interest in the coming period.
"The meeting was assessed as an important step towards further concretization of cooperation and confirmation of the strong interest of the renowned company Masdar in a strategic partnership with Montenegro in the field of energy," the statement said.
Šahmanović said that Montenegro is strategically and long-term building its position as a reliable and competitive player in the European energy market, emphasizing that the development of energy infrastructure and renewable energy sources are among the key state priorities.
The interlocutors agreed that the announced construction of the second strand of the submarine cable with Italy represents an extremely wise and strategically oriented investment, which provides Montenegro with a stronger and more stable position in the European electricity market.
"The vision of Montenegro as an energy hub is fully aligned with the Government's development plans," said Šahmanović.
Adžović welcomed the Masdar delegation and emphasized that the rich experience that the United Arab Emirates has in the development of energy and infrastructure in the public sector is of exceptional importance for Montenegro, especially in a period of intensive increase in capacity from renewable energy sources.
Masdar representatives said they are ready for their expert teams to continue technical discussions with the management of Elektroprivreda (EPCG) and the Montenegrin Electric Transmission System (CGES), with the aim of identifying priority and mature projects for joint implementation.
CGES Executive Director, Ivan Asanović, presented projects that are in the final phase of implementation, emphasizing that significant funds are being invested in improving the transmission network as a prerequisite for the integration of new green energy sources and their reliable connection to the power system.
Special emphasis was placed on the importance of coordinating and harmonizing the plans of national energy companies, in order to ensure stable, sustainable and efficient development of the energy sector.
EPCG CEO Zdravko Dragaš and EPCG Development and Investments Director Ivan Mrvaljević emphasized that the development of green energy is the top priority of the national energy company, noting that around 200 megawatts (MW) of new capacities from renewable energy sources are currently under development. It was announced that more intensive discussions with Masdar will follow in the coming period on cooperation models, potential investments and the selection of projects that could enter the implementation phase first.
"Solar projects, including floating solar power plants, battery energy storage systems, as well as hydropower development, have been identified as areas of particular interest, in which Masdar has significant engineering and technical experience," the statement said.
The interlocutors agreed that the focus should be on projects that are technically the most mature, environmentally friendly and aligned with the development of the electricity grid, in order to ensure their sustainable and efficient implementation.
The meeting was also attended by State Secretary at the Ministry of Energy and Mining Dino Tutundžić, Executive Director of EPCG Zdravko Dragaš, Director of the Development and Investment Sector of EPCG Ivan Mrvaljević, Director of the Sector for RES Projects of EPCG Bojan Đorđan, Executive Director of CGES Ivan Asanović and Director of the Investment Sector of CGES Dragan Perunović.
On behalf of Masdar, the meeting was attended by Ahmed Al Awadhi, Husain Al Meer, John Tamaresis, Director of Development for Europe, and Panos Manos.
Bonus video:
