Montenegro’s electricity transmission system operator CGES and renewable energy developer Nu Energy signed a grid connection contract for the Velestovo photovoltaic project. According to the update, the project is worth EUR 50 million and it will involve a battery system.
General Director of CGES Ivan Asanović (pictured right) and Chief Executive Officer of Nu Energy, Erkut Alkaya, signed a contract on connecting future photovoltaic facility Velestovo with Montenegro’s high-voltage network. It created the conditions for increasing the production of electricity from domestic renewable sources and the strentgthening of the country’s energy independence, the announcement reads.
CGES, standing for Crnogorski elektroprenosni sistem, is Montenegro’s transmission system operator or TSO. Nu Energy, based in the capital Podgorica, is a renewables developer and engineering contractor. The company owns the project, estimated at EUR 50 million. Its 100% subsidiary SE Velestovo is responsible for the endeavor.
The two companies revealed in their joint statement that the PV facility would have an integrated battery energy storage system (BESS). It will enable more efficient management of the generated electricity, time-optimized delivery of the energy to the network and a greater flexibility of the power system, they added.
Earlier this year, Nu Energy and Cospowers Technology, a BESS manufacturer headquartered in China, signed a memorandum of understanding on cooperation in the segment, within solar power projects in the Western Balkans.
