EPCG: Investments in energy transition and sustainable energy sources are key for the long-term development of the sector...

Investments in the energy transition and sustainable energy sources are key to the long-term development of the sector, but also to strengthening the competitiveness of the economy, it was assessed at a meeting of representatives of the Electric Power Company of Montenegro (EPCG), the Coal Mine (RUP) and the European Bank for Reconstruction and Development (EBRD) in Riga.

The Executive Directors of EPCG and RUP, Zdravko Dragaš and Nemanja Laković, discussed with bank representatives at the EBRD Business Forum in Riga about the possibilities of financing projects aimed at green transition, modernization of the energy sector and sustainable development.

EPCG announced that during the meeting, EBRD representatives were introduced to the development plans of Elektroprivreda and Rudnik, with a special focus on projects that contribute to decarbonization, improving energy efficiency, diversifying production capacities and strengthening the energy stability of Montenegro.

The meeting also discussed financial support models and further improvement of cooperation on projects of strategic importance for the Montenegrin energy sector.

The EBRD Business Forum, under the slogan From Volatility to Versatility - Innovative Economics in a Changing World, brings together decision-makers, representatives of international financial institutions, companies and the investment community from numerous countries.

"The Baltic region, recognized as one of the European centers of innovation and strategic development, was the place to discuss ways to strengthen the resilience of economies, accelerate the green transition and adapt to changes in the global energy market. A special focus of the forum was placed on mobilizing investments, connecting them with expert advice and public policy reforms that contribute to sustainable economic growth and energy security," the statement said.

The participation of representatives of Montenegrin companies at the forum is an opportunity to present the development plans of EPCG and the Coal Mine, as well as to strengthen partnerships with international financial institutions that play an important role in the implementation of energy and infrastructure projects in Montenegro.