Photo: Government of Montenegro
Montenegro has solar and wind projects in the pipeline with a total capacity of 4,000 MW, according to Admir Šahmanović, Minister of Mining, Oil and Gas and the Coordinator of the Ministry of Energy.
Speaking at the Economic Dialogue Montenegro-Italy round table, minister Admir Šahmanović called for stronger cooperation between the two countries in the energy sector.
Montenegro offers exceptional opportunities for investors, especially in the field of renewable energy sources, Šahmanović added. Of note, he will be one of the key speakers at the Belgrade Energy Forum conference on May 14 and 15.
The planned solar power plants and wind farms would increase the country’s production capacity from the current 1 GW to 5 GW, representing a huge potential for the energy transition and long-term supply stability, he pointed out.
A second line within the underwater power link with Italy would further increase energy security
The minister also stressed the importance of expanding the power interconnection with Italy with a second line of the subsea link. The project would further increase the transmission capacity and ensure even greater energy security, he underlined.
Since 2019, the underwater cable has been enabling stable transmission of electricity between the Balkans and the European Union. In the minister’s words, the second line would further strengthen energy security and increase the use of renewable energy sources in the region.
In addition to renewables, Šahmanović sees the mining sector as another opportunity for cooperation. A more detailed analysis of existing resources is needed, he said and added that Montenegro has valuable mineral resources that must be used with the implementation of sustainability standards.
The country needs strategic partners to modernize the sector while implementing the highest environmental standards, Šahmanović pointed out.
The round table was organized by the Embassy of Italy and the Italian Trade Agency (ICE), in cooperation with the Chamber of Commerce of Montenegro.
Ambassador of Italy Andreana Marcella said the event was a result of earlier talks between the governments of the two countries. She expects the final B2B and B2G meetings to bring concrete results in the energy, agriculture, and infrastructure sections.
According to ICE manager Antonio Ventresca, the round table marks the beginning of long-term cooperation. The event was also attended by the Montenegrin ministers of ecology and tourism Damjan Ćulafić and Simonida Kordić, respectively.
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