Photo: EPCG
Montenegrin state-owned power utility Elektroprivreda Crne Gore (EPCG) and Qair, headquartered in Paris, have signed a memorandum of understanding to enhance the pace of renewable energy project development in Montenegro.
EPCG and Qair, which entered the Montenegrin market in 2021, said that through the memorandum they established a partnership for the joint development of solar and wind power generation projects. Other cooperation opportunities will also be explored, according to the statement.
CEO of Qair Louis Blanchard said the company is pleased to establish a partnership with EPCG, stressing it is a significant event for Qair in the Montenegrin market.
“This positions the group as a key player, capable of leveraging its extensive experience in developing, building, and managing renewable energy projects, including wind, solar, and battery storage systems. I am confident that this partnership will provide Qair with outstanding opportunities to contribute significantly to the energy transition of this country,” Blanchard said.
The partnership will contribute to Montenegro’s energy transition
According to data from the International Energy Agency for 2021, coal accounted for 38.2% of electricity production in Montenegro, Qair noted and added that the country needs a stable and reliable electricity supply. Ideally, it would be based on renewable energy sources, the company said.
Qair finances, builds and operates solar and wind power plants, waste-to-energy and hydrogen production facilities as well as energy storage systems.
Qair group’s production capacity totals 1 GW
The group has 1 GW in installed production capacity. Over 660 employees are working on the development of a portfolio with a total planned capacity of 34 GW across 20 countries in Europe, Latin America, and Africa, according to its website.
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