Photo: Bojan Gnjidić/Vlada Crne Gore
A total of 14 cooperation projects between Montenegrin and European companies have been initiated at the ongoing European Union-Montenegro Investment Conference, including investments in solar, wind, energy storage, and grids.
The two-day conference, titled Smart Growth, Green Future: Accelerating Investment in Montenegro, was opened today in Luštica, near Tivat, by the President of the European Commission, Ursula von der Leyen, and the Prime Minister of Montenegro, Milojko Spajić.
Montenegro’s growing potential for strategic, green, and sustainable investments was presented through new partnerships between leading Montenegrin and European companies, according to a press release by the Government of Montenegro.
The Conference was jointly organized by the government and the European Commission, with the support of the Montenegro Investment Agency (MIA).
State power utility EPCG has signed three memoranda of understanding
State-owned power utility Elektroprivreda Crne Gore (EPCG) has signed three memoranda of understanding (MoUs). One was signed with Akuo for the development of several renewable energy projects, including floating solar, a photovoltaic plant, and energy storage.
The second MoU, signed with SS&A Power Group, envisages the development, manufacture, and installation of thermal energy storage, while the third, with wind fisher, concerns a new technology for high-altitude wind power generation.
Alcazar Energy signed a memorandum with the government’s project management office for the development and financing of renewable energy projects. CWP Europe and the Montenegrin Investment Agency (MIA) signed a memorandum on the development of the Montečevo solar farm project with battery storage. The company signed a similar agreement for its project in Albania yesterday.
A memorandum was also signed between Čevo Solar and Grawert Jenny & Partner on battery energy storage systems (BESS). A 20 MW/60 MWh battery is being considered.
Four sustainable investment partnerships were also signed
The Ministry of Energy and Mining and EDF will further discuss the issue of modernizing Montenegro’s power distribution network.
Among the signed documents is an MoU on collaboration between the European Bank for Reconstruction and Development (EBRD) and Erste on a Regional Energy Efficiency Program (REEP), as well as cooperation in the field of wastewater management between Suez and MIA.
In addition, four sustainable investment partnerships were also signed: Farm2Fork Montenegro, Station M, Green Logistics Hub, and Northern Investments Compact for Ecology & Resilience (NICER). Green Logistics Hub refers to the Port of Bar, which aims to become the first net-zero port on the Adriatic. NICER concerns the just transition and is led by the Pljevlja Coal Mine.
Von der Leyen: Do not wait for accession to invest in Montenegro
The event brought together senior representatives of the Government of Montenegro, the European Union, international financial institutions, as well as prominent European and Montenegrin investors.
“My message is very clear: do not wait for accession to invest in Montenegro, because by then you may miss the opportunities that others will seize,” Ursula von der Leyen noted.
She stressed that by continuing its European journey with determination and speed, Montenegro is making its goal of EU accession attainable.
“Today, we are opening a new chapter of development—we are beginning a major investment cycle, strengthening our ties with the European market even before formally joining the European family. Today, we are bringing our vision of green and smart growth to life. We are doing this together with our most important strategic partner—the European Union, which is also the largest investor in our country,” Prime Minister Milojko Spajić said.
He recalled that the country plans to close all negotiating chapters with the EU by the end of 2026 and become its 28th member state in 2028.
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