Energy Efficiency

Montenegro prepares EUR 1 million in grants for energy saving measures in industry

Montenegro secures EUR 1 million in grants for energy saving measures in industry

Photo: Government of Montenegro

Published

August 11, 2023

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Published:

August 11, 2023

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The Government of Montenegro has earmarked EUR 1 million for modern energy efficiency technology solutions for the processing industry.

The program for stimulating innovative energy efficiency measures in the industry for 2023 is jointly led by the ministries of economic development and tourism, science and technological development, and capital investments, and implemented by the Innovation Fund of Montenegro.

During preparations, surveyed companies said they are willing to invest in the modernization and optimization of production by procuring new efficient equipment, smart-digital technologies, and machines with multiple operations. Also, they are interested in solar panels and strengthening the skills of the employees in charge of energy management.

Out of about 100 questionnaires sent to businesses, the government received answers from 56 firms, which is, according to the government, a very good result. Their planned investments are estimated at EUR 16.3 million.

Companies can receive from EUR 80,000 to EUR 200,000 each

Micro, small, and medium-sized enterprises active in the the processing industry will be able to get grants of EUR 80,000 to EUR 200,000 apiece. It means their participation will be modest compared to the total value of the investment, the Montenegro government said.

According to the program rules, the maximum share of the grant in total investment is 80%.

There is a possibility that the program could be boosted by EUR 1.5 million from the Instrument for Pre-Accession Assistance – IPA III, and from the energy crisis aid secured by the European Commission.

A public call is planned for September

A public call for companies is planned for September after the three ministries and the Innovation Fund of Montenegro sign an agreement on intersectoral cooperation.

The deadline for implementation of selected projects is six months to two years.

Minister of Economic Development and Tourism Goran Đurović said companies would benefit from efficient use of resources, energy savings, improvement and innovation of production, and improved management and optimization of energy consumption.

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